Expression of Will at the Conclusion of the Smart Contract Cover Image

Manifestarea de voință la încheierea contractului inteligent
Expression of Will at the Conclusion of the Smart Contract

Author(s): Radu Stancu
Subject(s): Civil Law
Published by: Universul Juridic
Keywords: Contract; AI; Expression of Will; Consent; Civil Liability;
Summary/Abstract: The expression of will when entering into a smart contract is the adaptation of traditional legal principles to blockchain technology. Smart contracts are software programs that automatically execute the terms of an agreement when specified conditions are met, without human intervention. These contracts are stored on the blockchain, ensuring transparency and security. Entering into these contracts requires the expression of the parties' will, similar to traditional contracts, but by digital means - acceptance of the contract code through digital interfaces such as clicks or digital signatures. A critical issue is understanding the codified contract terms, emphasizing the importance of informed consent and accessibility. Jurisdictions face the challenge of regulating and legally recognizing these contracts, adapting legislation to new technological realities. The manifestation of will in smart contracts requires a deep understanding of technology and law to ensure that they are valid and legally enforceable, representing a significant evolution in how contractual interactions are conceptualized and executed in the digital age.

  • Page Range: 31-39
  • Page Count: 9
  • Publication Year: 2024
  • Language: Romanian