ABSTRACT
The purpose of this paper is to outline the nature of smart contracts and explore whether more commonly known smart contract functions can give rise to legal relations. It concludes that the key to resolving contractual questions involving smart contracts is to look at the substance of the smart contract in light of surrounding communications, constituent information and the parties’ conduct. Wherever possible, the notion of ‘functional equivalence’ should be upheld when applying traditional contract law doctrines.
Lloyd, Damian, Smart Contracts: When Functions May Give Rise to Legally Enforceable Obligations (September 12, 2020).
First posted 2022-04-07 08:30:57
Leave a Reply