«Reasonable contracts» (smart contracts) as a new challenge for law in the conditions of globalization

Abstract

The article defines the theoretical and legal content of the category of "reasonable contracts", outlines the concepts and basic forms of implementation of contractual obligations without enforcement. Based on the modern global paradigm of legal development, smart contracts are defined as contracts that are technologically secured in such a way that allows the parties to guarantee bilateral performance of contractual obligations without recourse to enforcement means, including judicial protection of violated right. It is noted that such a definition requires inclusion in the current civil and economic legislation, taking into account the actual existence in public relations of such contracts in the form of vending machines and other technically possible practical forms and models, as well as taking into account the real possibility of reducing the hypothetical costs of the parties to the contract for judicial consideration of the case. It is determined that in the context of modern social processes, self-help is not a fundamentally new phenomenon, since people regularly act independently before referring to the official legal system. So, over the past few years, a group of innovators have begun to develop computer technologies that have led to the emergence of a fundamentally new area of legal regulation in contract law, such as so-called "reasonable contracts" or smart contracts. From a teleological point of view, their purpose is to allow the parties to such a contract to ensure that they have reached an agreement to increase the cost of any violation by an appropriate amount. Smart contracts are defined as agreements in which conditions are executed automatically, usually using computers. Such contracts are intended to ensure execution without going to court. Automation ensures productivity by eliminating the human factor from contract execution. One example of a smart contract is a vending machine. If the machine is working properly and money is inserted into the machine, this will automatically execute the purchase and sale agreement. It is noted that such a contract does not create any legal problems if the machine will issue soda or coffee, but legal issues arise if the machine can issue, for example, narcotic drugs. So, there is a problematic question of the legality and expediency of legislative prohibition of such automatic means due to the theoretical possibility of their use for illegal purposes, or, conversely, their legalization and normalization by the requirements of current civil legislation.