Europe: Who Bears Final Responsibility and Liability

There is currently no legal framework in the European Union specifically tailored for smart contracts. It is unclear whether people can be bound by offers or acceptances made by a computer on their behalf. EU Directive 93/13/EEC outlines regulations with regard to unfair terms in consumer contracts, which would be applicable to all contracts in general. Given the absence of explicit regulations regarding smart contracts, it is likely decided at the member state level as to who bears final responsibility/liability in case something goes wrong with a smart contract.


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