Abstract:
Contract formation in the new age of advanced Artificial Intelligence has brought about varied world-wide legal concerns and debates. A preeminent and emerging legal concern is the legal capacity of the autonomous systems and machines that are based and function on advanced Artificial Intelligence. Further, legal debates raised
questions of whether contracts that are concluded by autonomous AI-driven systems and machines should be legally recognised as valid and enforceable. The primary aim of the research is to analyse the South African common law principles of contract by determining whether the principles are relevant and applicable to contracts concluded by autonomous AI-driven systems and machines. The principles are discussed and viewed in the context of advance Artificial Intelligence. Various theories of contractual interpretation are analysed in an attempt to find the most suitable theory for the interpretation of the affected contracts. The drafting process of code-based contracts and prescribed formalities thereof are also discussed. The dissertation is concluded with guidelines and recommendation for the successful application of AI machine-based contracts.
