Post
Topic
Board Altcoin Discussion
Re: The ONLY solution to the ETH/DAO conundrum..
by
iamnotback
on 18/06/2016, 21:09:49 UTC
Luckily there is Common law. Contracts are all about consent; abusing a gap/hole/vulnerability in a contract is obviously non-consentual and thus illegal. Without such a legal framework, no contract in the world could exist. No contract is perfect.

Agreed.

My father specializes in contract law, graduated top of his class at L.S.U. and was former West Coast Division Attorney for Exxon.

I once was fretting over the fine print of a contract for a $205,000 license I sold for CoolPage in 2001, and he advised to not kill the contract negotiations because he said the court would not enforce a one-sided contract.

So contract law interprets what is the intent, not just what is written in the contract.

Do you mean the intent of the DAO is not to enrich somebody by $50 million by exploiting a hole in the coding?

No. leopard2 and I mean that the intent of the DAO contract is roughly not to allow 1 user take all the value out without consensus voting.

And contract law will likely enforce rule for that intent, regardless of an weakness in the code which prevents enforcing that intent.

Edit: but note it is not clear whether the law could enforce it.