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Right. Ethereum is just a medium for recording a contractual agreement. Using ethereum should not make contracts any more enforceable in the eyes of the law. I
by calafrax 9y ago
Right. Ethereum is just a medium for recording a contractual agreement. Using ethereum should not make contracts any more enforceable in the eyes of the law.
In many cases I would assume the opposite will occur: plaintiffs will claim that there was no contract formation because because the technical mumbo-jumbo of computer code is incomprehensible to a layman.
I suspect that courts will react quite favorably to this argument seeing as how they have a natural interest in maintaining their jurisdiction.
- twblalock 9y agoI'm just amazed that people want to cut the courts out of jurisdiction over contracts. The courts are a legal recourse if you get screwed. Why give up those rights and let a computer program (or rather, it's creators) dictate that you're screwed if you make a mistake? I mean, contract law exists because that kind of strict arrangement proved unsatisfactory in real life in the past.
- jononor 9y agoThe legal mumbo-jumbo of written contract is also incomprehensible to lay people..