The Implications of Technological Advancements on the Constitutional Principles of Contract Law

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Technological Advancements on the Constitutional Principles of Contract Law</title> <meta name="description" content="The Implications of Technological Advancements on the Constitutional Principles of Contract Law"> <meta name="keywords" content="Technological advancements, constitutional principles, contract law, smart contracts, online dispute resolution, freedom of contract."> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <meta name="citation_title" content="The Implications of Technological Advancements on the Constitutional Principles of Contract Law"> <meta name="citation_author" content="Laura 脟ami (Vorpsi)"> <meta name="citation_author" content="Xhon Sk毛nderi"> <meta name="citation_publication_date" content="2024/01/31"> <meta name="citation_journal_title" content="International Journal of Law and Political Sciences"> <meta name="citation_volume" content="18"> <meta 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class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/search?q=Laura%20%C3%87ami%20%28Vorpsi%29">Laura 脟ami (Vorpsi)</a>, <a href="https://publications.waset.org/search?q=Xhon%20Sk%C3%ABnderi"> Xhon Sk毛nderi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> <p>In today's rapidly evolving technological landscape, the traditional principles of contract law are facing significant challenges. The emergence of new technologies, such as electronic signatures, smart contracts, and online dispute resolution mechanisms, is transforming the way contracts are formed, interpreted, and enforced. This paper examines the implications of these technological advancements on the constitutional principles of contract law. One of the fundamental principles of contract law is freedom of contract, which ensures that parties have the autonomy to negotiate and enter into contracts as they see fit. However, the use of technology in the contracting process has the potential to disrupt this principle. For example, online platforms and marketplaces often offer standard-form contracts, which may not reflect the specific needs or interests of individual parties. This raises questions about the equality of bargaining power between parties and the extent to which parties are truly free to negotiate the terms of their contracts. Another important principle of contract law is the requirement of consideration, which requires that each party receives something of value in exchange for their promise. The use of digital assets, such as cryptocurrencies, has created new challenges in determining what constitutes valuable consideration in a contract. Due to the ambiguity in this area, disagreements about the legality and enforceability of such contracts may arise. Furthermore, the use of technology in dispute resolution mechanisms, such as online arbitration and mediation, may raise concerns about due process and access to justice. The use of algorithms and artificial intelligence to determine the outcome of disputes may also raise questions about the impartiality and fairness of the process. Finally, it should be noted that there are many different and complex effects of technical improvements on the fundamental constitutional foundations of contract law. As technology continues to evolve, it will be important for policymakers and legal practitioners to consider the potential impacts on contract law and to ensure that the principles of fairness, equality, and access to justice are preserved in the contracting process.</p> <iframe src="https://publications.waset.org/10013489.pdf" style="width:100%; height:400px;" frameborder="0"></iframe> <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/search?q=Technological%20advancements" title="Technological advancements">Technological advancements</a>, <a href="https://publications.waset.org/search?q=constitutional%20principles" title=" constitutional principles"> constitutional principles</a>, <a href="https://publications.waset.org/search?q=contract%20law" title=" contract law"> contract law</a>, <a href="https://publications.waset.org/search?q=smart%20contracts" title=" smart contracts"> smart contracts</a>, <a href="https://publications.waset.org/search?q=online%20dispute%20resolution" title=" online dispute resolution"> online dispute resolution</a>, <a href="https://publications.waset.org/search?q=freedom%20of%20contract." title=" freedom of contract."> freedom of contract.</a> </p> <a href="https://publications.waset.org/10013489/the-implications-of-technological-advancements-on-the-constitutional-principles-of-contract-law" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/10013489/apa" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">APA</a> <a href="https://publications.waset.org/10013489/bibtex" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">BibTeX</a> <a href="https://publications.waset.org/10013489/chicago" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">Chicago</a> <a href="https://publications.waset.org/10013489/endnote" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">EndNote</a> <a href="https://publications.waset.org/10013489/harvard" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">Harvard</a> <a href="https://publications.waset.org/10013489/json" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">JSON</a> <a href="https://publications.waset.org/10013489/mla" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">MLA</a> <a href="https://publications.waset.org/10013489/ris" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">RIS</a> <a href="https://publications.waset.org/10013489/xml" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">XML</a> <a href="https://publications.waset.org/10013489/iso690" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">ISO 690</a> <a href="https://publications.waset.org/10013489.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">249</span> </span> <p class="card-text"><strong>References:</strong></p> <br>[1] Grigoleit, H. C., & Zech, H. D. (2019). The influence of new technologies on contract law. In H. Zech & P. Huber (Eds.), Contract Law in the Digital Age (pp. 23-42). Springer. <br>[2] Hildebrandt, M. (2015). Smart Technologies and the End (s) of Law. Novel Entanglements of Law and Technology. Edward Elgar Publishing. <br>[3] Ravello, C., & Zannini, U. (2019). The Impact of Technology on Contract Law: A Comparison between the Common Law and Civil Law Approaches. In H. Zech & P. Huber (Eds.), Contract Law in the Digital Age (pp. 43-68). Springer. <br>[4] Mathew, A., & Bhatia, R. (2019). Artificial Intelligence: A boon or a bane for dispute resolution. Journal of Dispute Resolution, 1-25. <br>[5] Weatherill, S. (2019). Consumer protection in the era of digital transformation. In H. Zech & P. Huber (Eds.), Contract Law in the Digital Age (pp. 69-88). Springer. <br>[6] Zoll, F. (2019). Smart Contracts and Contract Law. In H. Zech & P. Huber (Eds.), Contract Law in the Digital Age (pp. 135-154). Springer. <br>[7] Scott, R. E., & Spector, L. (2018). Smart contracts and the cost of incomplete contracting. Harvard Business Law Review, 8(1), 1-23. <br>[8] Rostami, M., & Guerraoui, R. (2020). Smart contracts: A comprehensive survey. ACM Computing Surveys (CSUR), 53(2), 1-45. <br>[9] De Franceschi, A., & Liao, H. (2018). Smart Contracts and the Role of Lawyers. In B. Torsello & M. Bottero (Eds.), Artificial Intelligence and Legal Disruption: A New Framework for Law and Technology (pp. 53- 70). Springer. <br>[10] Mathew, A., & Bhatia, R. (2019). Artificial Intelligence: A boon or a bane for dispute resolution. Journal of Dispute Resolution, 1-25. <br>[11] Sandvig, C., Hamilton, K., Karahalios, K., & Langbort, C. (2014). Auditing algorithms: Research methods for detecting discrimination on internet platforms. Data and Discrimination: Collected Essays, 201-222. <br>[1] ECJ's Case C-322/14. <br>[2] ECJ's Case Google Spain SL, Google Inc. v. Agencia Espa帽ola de Protecci贸n de Datos (AEPD), Mario Costeja Gonz谩lez (C-131/12). <br>[3] ECJ Case C-128/11, Content Services Ltd v. Bundesarbeitskammer (2012). <br>[4] ECJ Case C-191/15, Verein f眉r Konsumenteninformation v. Amazon EU S脿rl (2016). <br>[5] ECJ Case C-311/18, Data Protection Commissioner v. 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The Implications of Technological Advancements on the Constitutional Principles of Contract Law