The Law Society comments on news that Law Commission finds smart legal contracts are legally sound

The Law Society comments on news that the Law Commission has today concluded that the current legal framework in England and Wales can facilitate and support the use of smart legal contracts.

A Law Society of England and Wales spokesperson said:

“We welcome the Commission’s work on smart contracts.

“It’s a thoughtful analysis of the legal issues relating to digital commerce and makes a key contribution to ensuring the UK remains the best destination for digital business in future.

“We welcome, in particular, the proposal for work on model clauses for negotiating and drafting smart legal contracts and opportunities to contribute to that.

“We look forward to the Commission’s conflict of laws project and its further thinking about digital assets in the New Year.”

Kindly shared by The Law Society of England and Wales

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