TECHNOLOGIES AND THE LAW OF OBLIGATIONS (TWO ILLUSTRATIONS)
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Date
2025-12-15
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Plovdiv University Press
Abstract
The article examines the influence of technological development on the Law of Obligations, taking as an example two of its basic institutions: formation of contract and [the concept of] obligation. Since the late 20th century, internet technologies have become the primary medium for communication, allowing the rapid transmission of messages containing vast amounts of information. Has this technology influenced the regulation of contract formation? The last decade has seen the expansion of blockchain technology, which supports the distributed recording of encrypted data. This environment is dominated by computer programs that, under pre-defined conditions, automatically perform pre-defined actions (so-called ‘smart contracts’). But what is the role of the legal concept of obligation – the binding legal relationship that compels the debtor to render performance to the creditor – within this computerized space?
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Keywords
law of obligations, technologies, obligation, liability, contract