Rethinking Mistake in the Age of Algorithms
(2020) 31(3) King’s Law Journal 367-372
6 Pages Posted: 14 Aug 2020 Last revised: 24 Feb 2021
Date Written: July 15, 2020
Good traders remove emotion from the decision-making process. Automated trading algorithms have enabled this, allowing one to trade round the clock, and without the constant need to monitor one’s investments. But software has gremlins. Given the vast amounts of money involved in such trades, it was only a matter of time before disputes involving automated trading software came before the courts. The decision in Quoine v B2C2 (“Quoine”) represents the first time an apex court in the Commonwealth has ruled on the applicability of contractual principles to situations involving automated trading software.
Keywords: Contract Law, Artificial Intelligence, Cryptocurrencies, Fintech
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