Smart Contracts and Contract Law
Smart contracts have been a topic of interest to lawyers for some time now. The question regularly arises as to whether a smart contract can also constitute a valid contract on its own. This article examines this question, focusing on the basic principles of Swiss contract law.
Table of contents
- Introduction
- 1. Smart Contracts
- 1.1. Characteristics and Mechanism
- 1.2. Conditions Set in the Smart Contract
- 2. Legal and Contractual Capacity of the Contracting Parties
- 2.1. Legal and Contractual Capacity According to Civil Law
- 2.2. Determination of Legal and Contractual Capacity in Relation to Smart Contracts
- 3. Declaration and Attributability of the Declaration of Intent
- 3.1. Declaration of Intent
- 3.1.1. General
- 3.1.2. In Electronic Legal Transactions
- 3.1.3. With Smart Contracts
- a. Qualified Person
- b. Unqualified Person
- c. Qualified and Unqualified Person
- 3.2. Attributability of the Declaration of Intent
- 3.3. Conclusion
- 4. Programming Language as a Contract Language
- 4.1. Freedom of Form
- 4.2. Programming Language
- 4.3. Programming Language as a Contractual Language
- 5. Formal Requirements
- 5.1. Simple Written Form
- 5.1.1. Declaration Content in Characters (Erklärungsinhalt in Schriftzeichen)
- a. Declaration content in characters in e-commerce transactions
- b. Declaration Content in Characters in Smart Contracts
- 5.1.2. Declaration Medium
- a. Declaration Medium in e-Commerce Transactions
- b. Smart Contract as Declaration Medium
- 5.1.3. Signature
- a. Signature in e-Commerce Transactions
- b. Signature with Smart Contracts
- 5.1.4. Preliminary Conclusion
- 5.2. Qualified Written Form
- 5.3. Public Certification
- 5.4. Consequences of Formal Invalidity
- 5.4.1. Nullity and Partial Nullity
- 5.4.2. Reversal and Converson
- 5.5. Conclusion
- 6. Summary and Outlook
- 7. References
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