‘Smart legal contracts: the emperor’s new clothes or the elephant in the room?’

“The Law Commission has published an impressive paper on smart legal contracts to which Allen & Overy, along with many others, contributed; but what does it all mean? ‘The Law Commission’s working definition of a smart legal contract is a “legally binding contract in which some or all of the contractual obligations are defined in and/or performed automatically by a computer program”. This the Commission sub divides into …'” (more)

[Jason Rix, Allen and Overy – Compact Contract, 23 December]

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