SYSTEM AND METHOD FOR FORMING, STORING, MANAGING, AND EXECUTING CONTRACTS
A system and method for computable contracts that includes a contract management system accessible by involved parties, managing a formation stage of a contract document by obtaining object components, assembling a contract object graph from the object components, and committing the contract object graph to post formation execution; and in an execution environment during a post-formation stage, executing the contract object graph where instances of execution include receiving a contract state update, and appending at least one update object component to the contract object graph in accordance with the contract state update. Variations of the system and method may apply peer-to-peer negotiation and execution, use a cryptographic directed acyclic contract object graph, and/or interface with distributed ledgers.
1 . A method comprising:
in a contract management system accessible by involved parties, managing a formation stage of a contract document comprising:
obtaining object components of the contract document,
assembling a contract object graph from the object components,
committing the contract object graph to post formation execution; and
in an execution environment during a post formation stage, executing the contract object graph where instances of execution comprise:
receiving a contract state update, and
appending at least one appended object component to the contract object graph in accordance with the contract state update.