How will the emergence of smart contracts challenge and redefine the traditional legal frameworks around contractual obligations?

ANSWER: Smart contracts, self-executing agreements with the terms written into code, challenge traditional legal frameworks by automating enforcement without courts. They raise questions on jurisdiction, legal validity, and dispute resolution. Adapting the law to address digital execution, unforeseen contingencies, and code interpretability issues will be essential to integrate these contracts with existing legal obligations and protections.