Rethinking Mistake in the Age of Algorithms

6 Pages Posted: 14 Aug 2020 Last revised: 24 Feb 2021

See all articles by Vincent Ooi

Vincent Ooi

Singapore Management University - School of Law; Singapore Management University - Centre for AI & Data Governance

Kian Peng Soh

Singapore Management University - School of Law

Date Written: July 15, 2020

Abstract

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

Suggested Citation

Ooi, Vincent and Soh, Kian Peng, Rethinking Mistake in the Age of Algorithms (July 15, 2020). (2020) 31(3) King’s Law Journal 367-372, SMU Centre for AI & Data Governance Research Paper No. 2020/11, Singapore Management University School of Law Research Paper No. 20/2020, Available at SSRN: https://ssrn.com/abstract=3651608 or http://dx.doi.org/10.2139/ssrn.3651608

Vincent Ooi (Contact Author)

Singapore Management University - School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

HOME PAGE: http://vincentooi.com

Singapore Management University - Centre for AI & Data Governance ( email )

55 Armenian Street
Singapore
Singapore

Kian Peng Soh

Singapore Management University - School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

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