The legal limitations on smart contracts are slowly disappearing through state legislation, as shown by Arizona's 2017 law making smart contracts fully enforceable and Delaware's parallel Blockchain Initiative proposals.
Source quote, verbatim
Such limitations are slowly disappearing. For instance, Arizona passed a law in early 2017 that makes smart contracts fully enforceable under Arizona law.67 Delaware is looking into similar rules proposed in the Blockchain Initiative.
Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548
Holds when
United States state law, as of 2017 to 2019
Classification
empiricalsupport: evidencedsmart-contracts
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