Contracts for Interacting Two-Party Systems
Gordon J. Pace (University of Malta), Fernando Schapachnik, (Universidad de Buenos Aires)
TL;DR
This paper formalizes the interdependent obligations, permissions, and prohibitions in two-party contracts using automata-based semantics, addressing contract strictness and conflicts arising from party interdependence.
Contribution
It introduces a formal framework for analyzing interrelated deontic operators in contracts, emphasizing the mutual influence of parties.
Findings
Formalization of interdependent deontic operators
Definition of contract strictness and conflict
Enhanced understanding of party interdependence in contracts
Abstract
This article deals with the interrelation of deontic operators in contracts -- an aspect often neglected when considering only one of the involved parties. On top of an automata-based semantics we formalise the onuses that obligations, permissions and prohibitions on one party impose on the other. Such formalisation allows for a clean notion of contract strictness and a derived notion of contract conflict that is enriched with issues arising from party interdependence.
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