ABSTRACT
While legislation can be used to prevent unenforceable smart contracts from being entered into and smart contract and blockchain architecture can be designed to prevent unenforceable smart contracts from being executed; currently unenforceable smart contracts can be entered into and it will fall to courts to undo them. Part 1 gives a brief introduction to smart contracts and blockchain, Part 2 identifies the types of smart contracts that would be considered unenforceable at law, and Part 3 examines the legal tools Canadian courts have for undoing unenforceable smart contracts.
Luesley, Andrew, Unravelling Smart Contracts: Smart Contracts and the Law of Rescission in Canada (May 3, 2019). 2019 Asper Review of International Business and Trade Law 155.
First posted 2021-03-25 12:00:09
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