News & Analysis as of

Smart Contracts UETA

Mayer Brown

The Promise and Potential of Blockchain and New UCC Article 12

Mayer Brown on

Executive Summary: In the summer and fall of 2022, electronic transactions were undergoing a sea change, but riding different tides: in the summer, the Uniform Law Commission approved a set of amendments to the Uniform...more

Foley & Lardner LLP

Legal Implications of Blockchain in Supply Chain: What’s Law Got to Do With It?

Foley & Lardner LLP on

The advent of new technology brings along with it the murkiness of how the American legal system will treat such technology. Before the rise of blockchain for instance, businesses were uncertain how courts would treat...more

Proskauer - Blockchain and the Law

Ohio and California Join Other States in Passing Blockchain-Friendly Legislation

This past summer, Ohio adopted legislation (SB220) that primarily provides for a legal safe harbor from certain data-breach related tort claims to covered entities that implement a specified cybersecurity program that...more

Skadden, Arps, Slate, Meagher & Flom LLP

An Introduction to Smart Contracts and Their Potential and Inherent Limitations

“Smart contracts” are a critical component of many platforms and applications being built using blockchain or distributed ledger technology. Below, we outline the background and functions of smart contracts, discuss whether...more

Allen Matkins

If There Are No Minds, Can There Be A "Meeting Of The Minds"?

Allen Matkins on

Old school lawyers are familiar with the notion that "the failure to reach a meeting of the minds on all material points prevents the formation of a contract even though the parties have orally agreed upon some of the terms,...more

Pillsbury Winthrop Shaw Pittman LLP

Recognition of Smart Contracts - Legal developments encourage the use of smart contracts in the United States

This spring, Arizona became one of the first states in the U.S. to enact a law explicitly granting smart contracts the same legal effect, validity and enforceability as their standard contract counterparts. “Smart contracts”...more

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