In the specific case of the project known as ‘TheDAO’, the terms of service does indeed waive all legal rights and says that whatever the computer program says supersedes all human-world stuff.
I may have missed it, but that is not at all what the link you posted says. It has a waiver of liability against 3rd parties (basically the DAO operation). It does not say that you cannot have liability between to parties subject to a contract, or even seem to mention anything about dispute resolution.
Also, I would like to point out that you CANNOT have a contract that requires an illegal act. For instance, you cannot create a contract that says “Person A waives all legal recourse against Person B if Person B murders them.” The act of murder is still illegal even if both parties agree to it.
Finally, the TOS for DAO is not the contract, it is merely the TOS for using the service. So the individual contracts between two people are going to override that.
You’re still conflating the term “smart contract” and the idea of a legal contract.
That’s like conflating “observer” in physics with a human staring at you or hearing someone talking about a Daemon on their server and talking as if it’s a red skinned monster from hell perched on the server.
Imagine someone says
“This is a river, if you throw your money in it will end up somewhere, we call the currents a ‘water contract’, the only difference to a normal river is that we’ve got the paperwork signed such that this doesn’t count as littering”
It does indeed end up somewhere and you’re really really unhappy about where it ends up.
Who do you think you’re going to take to court and for what contract?
Finally, the TOS for DAO is not the contract, it is merely the TOS for using the service. So the individual contracts between two people are going to override that.
Which two people do you mean? The creators of the the DAO don’t have control over it. When people who brought tokens sue them, they can’t give them the money back.
I may have missed it, but that is not at all what the link you posted says. It has a waiver of liability against 3rd parties (basically the DAO operation). It does not say that you cannot have liability between to parties subject to a contract, or even seem to mention anything about dispute resolution.
Also, I would like to point out that you CANNOT have a contract that requires an illegal act. For instance, you cannot create a contract that says “Person A waives all legal recourse against Person B if Person B murders them.” The act of murder is still illegal even if both parties agree to it.
Finally, the TOS for DAO is not the contract, it is merely the TOS for using the service. So the individual contracts between two people are going to override that.
You’re still conflating the term “smart contract” and the idea of a legal contract.
That’s like conflating “observer” in physics with a human staring at you or hearing someone talking about a Daemon on their server and talking as if it’s a red skinned monster from hell perched on the server.
Imagine someone says
“This is a river, if you throw your money in it will end up somewhere, we call the currents a ‘water contract’, the only difference to a normal river is that we’ve got the paperwork signed such that this doesn’t count as littering”
It does indeed end up somewhere and you’re really really unhappy about where it ends up.
Who do you think you’re going to take to court and for what contract?
Which two people do you mean? The creators of the the DAO don’t have control over it. When people who brought tokens sue them, they can’t give them the money back.
You might be correct. I suspect you know more about the law side of this than i do.