Legal status of Transactions Done by Artificial Intelligence: Virtual Lawyer Theory

Yaghoti, Ebrahim; Nakhjvani, Ali

doi:10.48308/eclr.2023.103363

Legal status of Transactions Done by Artificial Intelligence: Virtual Lawyer Theory

Document Type : Original Article

Authors

Ebrahim Yaghoti ¹

Ali Nakhjvani ²

¹ Associate Professor, Department of Jurisprudence & Law, Faculty of Literature and Human sciences, Islamic Azad University, Central Tehran Branch, Tehran, Iran.

² M.A.in Jurisprudence &amp;amp;amp;amp;amp; Law, Department of Jurisprudence &amp;amp;amp;amp;amp; Law, Faculty of Literature and Human sciences, Islamic Azad University, Central Tehran Branch

https://doi.org/10.48308/eclr.2023.103363

Abstract

The movement of artificial intelligence at the edge of science and its exponential progress in recent years as a leading technology has caused legal frameworks to lag behind technology, so that today an important part of financial market transactions such as stock exchange, currency and cryptocurrency is done by robots based on autonomous artificial intelligence. The lack of laws in this field has made it impossible to recognize the legal nature of artificial intelligence in these transactions, and as a result, the validity of the transactions concluded by bots that decide independently, due to the lack of capacity defined in law and hazardous transactions probability is doubted. To solve this problem, this research has theorized a new legal nature under the title of virtual lawyer by studying and examining the current civil and commercial laws and considering jurisprudential sources and judicial opinions and proposed Articles in this regard.

Keywords

Robot Law

Artificial intelligence

Virtual lawyer

Electronic person

Trader Bot

Lawyer

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