​Smart Legal Contracts: Computable Law in Theory and Practice

This volume is edited by Jason Grant Allen, senior research fellow at the Humboldt University of Berlin, and Peter Hunn, member of the UK Jurisdiction Taskforce chaired by the master of the rolls Sir Geoffrey Vos. It consists of 20 essays by leading lawyers, computer scientists and other professionals from the UK, Australia and elsewhere, on the cutting-edge subject of ‘smart legal contracts’ (SLCs) (which we discover is by no means the same as the looser term ‘smart contracts’). The book brings together a unique body of insight and experience into what is a fast-growing area of law and technology.

It focuses on the common law approach of the English-speaking world towards SLCs and their technological development, but there are also distinctive contributions from elsewhere.

The layout is user-friendly and starts with the ‘Editors’ Introduction’ which describes succinctly the focus of the book. There is much discussion of the nature of SLCs and the definitions do vary a little from writer to writer, although the general parameters are clear. The book is a 360-degree examination of what SLCs are.

One contributor is Sir Geoffrey. In ‘End-to-End Smart Legal Contracts: Moving from Aspiration to Reality’ he poses questions regarding the legal characteristics of SLCs on which other contributors express their views. This discussion format links together the essays well but each one remains self-standing and coherent. Much thought is given by contributors to the taxonomy issues affecting SLCs as well as to the legal and technological challenges of putting together an SLC.

Publication was timely in the UK as it closely coincided with the Law Commission’s Advice to the UK Government on 25 November 2021. This concluded that ‘the current legal framework in England and Wales is clearly able to facilitate and support the use of smart legal contracts’. However, the devil is in the detail and it is this detail which makes this collection of essays so relevant.

SLCs seem to be part of the future but there are essays in the book (such as ‘Not up to the Job: Why Smart Contracts are Unsuitable for Employment’ by Gabrielle Golding, senior lecturer in law at the University of Adelaide, and Mark Giancaspro, lecturer and practising lawyer at the University of Adelaide Law School) which show that the road ahead for SLCs is not trouble-free.

For those interested in the computer science behind SLCs, there are interesting essays dealing with topics like the relationship between the natural language of contracts (such as English or French) and the computer codes used in the self-executing technologies which underpin the performance of SLCs.

It is invidious, however, to name some of the essays without listing them all because the editors have clearly put a great deal of thought into selecting the contributions to what is not only a work of academic excellence but also of practical significance. While a weighty tome in every sense, it is also a fun volume to read. I refer you, for example, to the essay by Robert Herian (senior lecturer in law at the Open University Law School) entitled ‘Techno – Legal Supertoys: Smart Contracts and the Fetishization of Legal Certainty’.

The beauty of the law lies in its ability to adapt to changing circumstances and this volume honourably upholds that tradition. I look forward to the next edition as SLCs continue to attract attention.

David Glass is a consultant solicitor at Excello Law