Logical English meets legal English for swaps and derivatives
File(s)
Published version
Author(s)
Kowalski, Robert
Datoo, Akber
Type
Journal Article
Abstract
In this paper, we present an informal introduction to Logical English (LE) and illustrate its use to standardise the legal wording of the Automatic Early Termination (AET) clauses of International Swaps and Derivatives Association (ISDA) Agreements. LE can be viewed both as an alternative to conventional legal English for expressing legal documents, and as an alternative to conventional computer languages for automating legal documents. LE is a controlled natural language (CNL), which is designed both to be computer-executable and to be readable by English speakers without special training. The basic form of LE is syntactic sugar for logic programs, in which all sentences have the same standard form, either as rules of the form conclusion if conditions or as unconditional sentences of the form conclusion. However, LE extends normal logic programming by introducing features that are present in other computer languages and other logics. These features include typed variables signalled by common nouns, and existentially quantified variables in the conclusions of sentences signalled by indefinite articles. Although LE translates naturally into a logic programming language such as Prolog or ASP, it can also serve as a neutral standard, which can be compiled into other lower-level computer languages.
Date Issued
2022-06
Date Acceptance
2021-06-24
Citation
Artificial Intelligence and Law, 2022, 30 (2), pp.163-197
ISSN
0924-8463
Publisher
Springer
Start Page
163
End Page
197
Journal / Book Title
Artificial Intelligence and Law
Volume
30
Issue
2
Copyright Statement
© The Author(s) 2021 Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.
License URL
Identifier
https://doi.org/10.1007/s10506-021-09295-3
Publication Status
Published
Date Publish Online
2021-08-12