Legal consequences of the invalidity of a transaction made by using information technology: problems of theory and practice

Abstract

The article deals with the problem of determination of the peculiarities of legal consequences of invalidity of transactions committed with the use of modern information technologies. The authors believe that the development of modern information technologies has led to the emergence of «new» and «transitional» transactions. The object of the study is completely «new» transactions (for example, IT-transactions that are concluded on the Internet, including using the Blockchain technology) and «transitional transactions», which are only partially different in form and/or manner than traditional ones (for example, electronic transactions, transactions where the object is related to the IT-environment, etc.). As to the consequences of the recognition of transactions invalid, then, in the opinion of the authors, the basis is to take the general model of recognition of invalid transactions, which provides for restitution and compensation for damage. Particular attention should be paid to the recognition of invalid IT-transactions to the «a priori validity» of such transactions, which can create significant risks for users of the blockade software platform and make it difficult to protect their rights in the future. The results obtained is seen in the creation of a new concept of the law in the information society with the development of an appropriate legal mechanism for the protection of the rights of their participants, in particular, the concept of the invalidity of IT-transactions and their legal implications.