A treaty is essentially an agreement to do something or not to do it. The declaration of a treaty means that it is legally binding and enforceable. The point of a contract is to clearly tear up an agreement in order to reach the “object” while disputes or disputes are avoided. Each lawyer will tell you that a lawsuit is a very inefficient and costly way to resolve contractual disputes, and it also means that you lose control over the subject matter because a judge or jury will make the decisions instead. A treaty merely concludes an agreement between two or more parties, sometimes after a long period of negotiations, which is a kind of compromise. In the case of an intelligent contract, the contract is programmed with a series of defined and clear entries and conditions and after its completion, the contract is executed and becomes law for the parties concerned, so that the legal system descends completely from the whole process. However, it is argued that the removal of the human element from the interpretation, execution and application of contracts cannot always be a positive result. Think of a credit institution that lends to a borrower; the borrower is late and the smart contract automatically imposes the lender`s rights as part of the loan or imposes guarantees that guarantee them. Sounds like true, doesn`t it? Quite often, in similar situations, lenders may decide to exercise their discretion and decide not to use credit immediately in the event of a default, but to argue with the defaulting borrower in disputes about how the defaulting borrower can get back on its feet – after all, a successful borrower is much better than a struggling borrower. It is important to know that not all contracts should be concluded in writing. In California, for example, some agreements may be oral and yet legally enforceable. In both parties, a contract must include: the contracting parties, the agreement of the parties, the legitimate respect and consideration.

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