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Summary

The intent of this section is to provide software engineers, developers and users of the Hyperledger suite a basic working knowledge of contract law as it applies in the context of "smart contracts". References and further reading suggestions are provided below if the reader would like to expand their knowledge of the legal principles involved.

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The purpose of this glossary is to provide a common semantic foundation for discussions concerning contract principles as they relate to smart contracts.  So, for example, if a question were to arise about whether a given smart contract constitutes a legally binding agreement, we would have reference to the definitions of Offer, Acceptance and Consideration as described below.   There is a known bias toward contract law in the United States and Great Britain.  This section should be supplemented by, and distinctions drawn with respect to, definitions from other countries.  

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