Contract law

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Contract law

What are contracts for?

1. Efficiency: Reduction in negotiations and disputes 2. Realistic expectations: Risks and rewards

Smart contracts

A smart contract that articulates and is capable of self - executing, on a legally enforceable basic. the terms of an agreement between two or more parts.

DIsadvantages: It cant be altered negotiate off - chain. Difficult to ocde all aspects.

Advantages:Reduce execution risk, automatic performance, reduce ambiguity

Blockchain

Si bien en Colombia aún no se ha emitido ninguna regulación, el Banco de la Republica y la Superintendencia Financiera han expresado que el bitcoin no se constituye como una unidad monetaria ni de cuenta en Colombia y, por lo tanto, no puede considerarse como un medio de pago de curso legal ni un activo con poder liberatorio.

Las criptomonedas han ganado popularidad como una forma de hacer transacciones entre personas a nivel global debido a su rapidez y bajo costo. Sin embargo, al eludir al sistema financiero, este tipo de monedas virtuales se convierten en vehículos potenciales para el lavado de activos y la financiación del terrorismo (LA/FT) y la evasión fiscal.

Las criptomonedas han ganado popularidad como una forma de hacer transacciones entre personas a nivel global debido a su rapidez y bajo costo.

Bases de datos desentralizadas

Technology trend

Contracts essentials

Civil vs Commercial relationships

Comercial relationships

EEUU, Canada, UK Law = History, customary rules.

Civil

Europe, Latin America and some countries in Africa. Law = Codes, Statues, written laws that come from Congresses, Parlaments or legislators.

What is a contract?

<>. Arrangements depend on cultural aspects, and specially on the “legal culture”.

Sustainability

Sustainable contracts

Companies strategies, commitments and arragements must be included in contracts and agreements.

"66% of global consumers are more willing to pay more for business that have greater social and environmental impact."

Sustainability challenge

Adidas and recycled plastis

“WE’RE NOT JUST FOCUSED ON CHANGING HOW WE DO BUSINESS; WE'RE DEDICATED TO CHANGING HOW OUR INDUSTRY DOES BUSINESS”

You are a member of the sustainability commite of BGC Corp.