Can a Smart Legal Contract Be Considered a Contract According to U.S. Contract Law?
Smart contracts can easily comply with offer, acceptance, and consideration requirements of conventional contracts, writes Mykyta Sokolov for lawless.tech.
“Requirements of intent and mutual assent may represent a problem; however, not so complicated smart contracts that are performed as it was intended by the parties can comply with such requirements.” she explains.
In her article, she explains the difference between external and internal smart contracts, especially relating to consideration, mutual assent and intent to be bound, electronic agency as a specific intent issue, and offer and acceptance.