Smart Contracts
/ˈsmɑːrt ˈkɒntrækts/
Definitions
- (n.) Self-executing agreements with terms directly encoded into software, enabling automatic enforcement without intermediary.
The parties used smart contracts to automate the payment process upon delivery.
Forms
- smart contract
Related terms
See also
Commentary
Smart contracts are typically governed by contract law principles but involve technology that may introduce unique jurisdictional and enforceability considerations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.