A THOROUGH INVESTIGATION OF THE EFFECTS OF SMART CONTRACTS AND E-CONTRACTS ON THE CREATION AND PERFORMANCE OF CONTRACTS – UNLEASHING THE POWER OF TECHNOLOGY

AUTHOR – SUPRANA CHAKRABORTY, STUDENT AT NATIONAL FORENSIC SCIENCES UNIVERSITY , DELHI CAMPUS

BEST CITATION – SUPRANA CHAKRABORTY, A THOROUGH INVESTIGATION OF THE EFFECTS OF SMART CONTRACTS AND E-CONTRACTS ON THE CREATION AND PERFORMANCE OF CONTRACTS – UNLEASHING THE POWER OF TECHNOLOGY, ILE LEX SPECULUM (ILE LS), 1 (1) OF 2023, PG. 282-291, APIS – 3920 – 0036 | ISBN – 978-81-964391-3-2

I. Abstract

Technology’s influence on contract creation and performance, particularly when smart contracts and e-contracts are used, has drawn more and more attention. This essay offers a thorough examination of the effects of technology-driven contracts, building on significant research publications for its analysis. We examine how e-contracts and smart contracts can be used to create and carry out contracts more effectively, transparently, and affordably. The literature study stresses the need for harmonised legal frameworks as well as the opportunities and problems related to the development of smart contracts.

This study intends to provide light on the transformative potential of technology in changing contractual relationships by investigating the possibility of real-time monitoring, performance tracking, and dispute resolution systems. The results provide insight into the state of technology-driven contract management now and provide direction for future study and development in this dynamic field.

II. Keywords – Smart contracts, performance tracking, blockchain, technology, e-contracts, contract performance, dispute resolution, transparency, efficiency, real-time monitoring, contract formation, cost-saving, legal frameworks, automation, digitalization.