1—This agreement (“Agreement”) is comprised in part through this document (“Document”) and in part through a smart contract (“Smart Contract”) which will be deployed on the Ethereum network (“Blockchain”) to an address known to the Agreement’s parties. Both the Document and the Smart Contract are integral to the Agreement.
2—There are two parties (“Parties”) to this Agreement, a buyer (“Buyer”) and a seller (“Seller”). The Parties will be identified by their respective public addresses on the Ethereum network. Buyer’s address will be stored in the buyer field of the Smart Contract; Seller’s will be stored in the seller field.
3—Seller agrees to sell an item (the “Item”) to be described in the personalProperty field of the Smart Contract by either Buyer or Seller for sum of Ethereum cryptographic to be defined by the salePrice field of the Smart Contact, which will be defined when the Smart Contract is deployed on the Ethereum network and later funded to the Smart Contract by the Buyer as explained in section 5 infra.
4—The Item will be transferred by a method documented in the Smart Contract in the methodOfDelivery field and title shall pass to Buyer when this Agreement is fully performed.
5—If Seller delivers the Item and Buyer fails to set the propertyDeliveredfield of the Smart Contract as explained in section 5(8) infra within a reasonable time then the Seller may demand return of the Item.
6—(A) In the event there is a conflict between this Document and the Smart Contract, the terms of the Smart Contract will control.