Status of Smart Contract in India: Legal challenges and future trends

Vol-3 | Issue-08 | August 2018 | Published Online: 07 August 2018    PDF ( 281 KB )
Author(s)
Dr. Manoj Kumar Sadual 1

1Reader, P.G. Department of Law, Utkal University, Bhubaneswar, Odisha

Abstract

India is projected through a progressive era, both as regards its constitution as well as its legislative jurisprudence. It will be absurd, at the moment of this accelerating transcendental, not to take into consideration the technological advancement and digital revolution that has erupted into the legal amphitheatre. Presently, the “Indian Contract Act” in tandem with the “Information Technology Act”, plus “Indian Evidence Act”, except as otherwise specified so, govern and reflects the signal for a lawfully enforceability of e-contracts in India. This paper outlines the necessity for legal development of the interpretation of contract law to keep up with the technology evolution, as well as the legal complexities correlated with Smart contracts based on blockchain.

Keywords
Indian Scenario, Smart Contract, Contract law
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