Great news that the Law Commission has confirmed that the existing law of England & Wales is able to accommodate and apply to smart contracts.
This detailed report considers the formation of smart legal contracts, their interpretation, remedies in disputes and jurisdiction, amongst other things.
We look forward to seeing the case law on smart contracts develop.
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The flexibility of our common law means that the jurisdiction of England and Wales provides an ideal platform for business and innovation, without the need for statutory law reform.
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