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Published on Oct 25, 2011
On October 18th, 2011 CodeX - The Stanford Center for Legal Informatics sponsored the event, "Computable Contracts" at Stanford Law School.
A contract is a promise, voluntarily undertaken, that is enforceable under the law. A computable contract is a contractual obligation that has been formulated such that a computer system can both interpret and determine whether the obligation has been complied with. This Article explores the theory and concept of computable contracts and their increasing impact on the law. Such computable contractual obligations offer advantages over traditional written obligations, including efficiency of compliance assessment, and detection of contradictory legal obligations.