Abstract
Smart contracts can solve many problems and make our lives more efficient. They have a potential to change the world as the World Wide Web did. Nevertheless, the focus of this working paper is a smart legal contract, a smart contract that is designed to create contractual rights and obligations. The smart legal contract should be recognized as a new legal concept as it does not fit in any existing concepts. The main question is whether it can be recognized and operate as a contract in a legal sense according to the U.S. contract law. The analysis shows that at least some smart contracts can. Additionally, this working paper underlines the importance of this technology to be within the framework of contract law. Finally, there are some thoughts on how the adjudication of disputes may happen.
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