Common Contracts
1 similar null contracts
A trace-based model for multi-party contracts⇤May 1st, 2023
A (multi-party) contract is a legally binding agreement between individuals or companies that de- scribes the commitments of each contract participant. For enterprises, contracts serve as the external interface to their clients, and consequently it is crucial to monitor the execution of these contracts for violations, and to comply with them in order to avoid financial penalties. In this paper we present a trace-based model for multi-party contracts, in which contract conformance is defined abstractly as a property on traces. A highlight of our model is blame assignment, which means that all con- tract violations are attributed to contract participants, and we analyze how blame assignment affects compositionality. Moreover, in order to specify contracts, we introduce a contract specification lan- guage, CSL, which is given a formal semantics by means of a mapping into the abstract model, and which overcomes the limitations of existing contract languages by supporting (a) (history sensi
