On legal contracts, imperative and declarative smart contracts, and blockchain systems
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Idelberger, Florian
Milosevic, Zoran
Riveret, Regis
Sartor, Giovanni
Xu, Xiwei
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Abstract
This paper provides an analysis of how concepts pertinent to legal contracts can influence certain aspects of their digital implementation through smart contracts, as inspired by recent developments in distributed ledger technology. We discuss how properties of imperative and declarative languages including the underlying architectures to support contract management and lifecycle apply to various aspects of legal contracts. We then address these properties in the context of several blockchain architectures. While imperative languages are commonly used to implement smart contracts, we find that declarative languages provide more natural ways to deal with certain aspects of legal contracts and their automated management.
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ARTIFICIAL INTELLIGENCE AND LAW
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26
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4
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Subject
Artificial intelligence
Law in context
Cognitive and computational psychology