The Applicability of Artificial Intelligence in Contractual Relationships

Abstract

The appearance and the impacts of AI and digitalisation in the different types of legal work and in different legal areas and in relation to certain legal institutions, are examined and analysed nowadays by many researches, in many ways. In this study, we examine the impact digitalisation and AI have on the law of obligations, particularly on the law of contract and which challenges shall the national legislators face in the near future. In the first part of the study, we deal with the formation of contracts by electronic means. After the short review of the related Hungarian regulation in force, recent results of the EU legislation will be introduced, which was generated by both the expansion of digital content and digital services. In the second part of the study, attention will be paid to a relatively new phenomenon, the so-called smart contract. In the course of our examination, we attempt to designate the framework of the notion of smart contract and to draft all those questions relating to smart contracts, which shall be answered over time by the legislation and by the contract law regulation.