Smart Legal Contracts combination of Legal Expertise, Software Programming and Blockchain Technology.
Law Blocks represents an evolution in the creation of digital agreements and it aims to evolve the current notion of a digital contract. Therefore, find below a classification of existing contract categories, starting from traditional legal contracts, up to smart contracts. Smart Legal Contracts are the combined result of the application of skills traditionally by lawyers, solicitors, Law firms, software programming, and ultimately uploading on blockchain, for security and confidentiality.
Using templates created by lawyers, law experts, ultimate users can drag and drop clauses, enter data relating to the parties and the performance of the contractual relationship, and set terms, conditions as required and store it on Blockchain.
The most important features of Law Blocks is the dispute resolution clauses, including the possibility of resolving disputes virtually through various resolving methods provided by Law Blocks, like free Legal Aid, Democratic Voting, legal Aid by expertise, and Mediation and Arbitration Centers and Courts.
These are traditional agreements concluded by the parties, orally where permitted, or in writing according to the preferences of the parties or where required by law for the validity of the contract.
Today, these contracts can also be signed digitally, thanks to the advent of the electronic signature. In the event of a dispute, courts who are being burdened with a substantial number of disputes end up providing slow and costly dispute resolution proceedings. Today Courts itself are making huge attempts to encourage resolving disputes through mediation and arbitration. Keeping this in focus this Platform is perceived as a problem solver.
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