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Singapore
unilateral mistakealgorithmic contractscryptocurrency
Quoine Pte Ltd v B2C2 Ltd
[2020] SGCA(I) 2; [2020] 2 SLR 20
Key Principle
The Court of Appeal (on appeal from the SICC) held that for contracts formed by deterministic algorithms, the doctrine of unilateral mistake is assessed by reference to the knowledge and state of mind of the programmer at the time the algorithm was written, and on the facts there was no operative mistake permitting the cryptocurrency trades to be unwound.
Area of Law
contract
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