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There is nothing even closely resembling a contract between me and Bitstamp. When you transfer Bitcoins to Ripple there is nothing but "Enter your Address", there is no text as to what they will give you, what that means, what their obligations are...nothing...somehow I'm going to use that to sue them?
If they accept your money and purport to issue and redeem IOUs then you can probably sue them, or at least report them to the police.
Just one more quote...so you are telling me that I could go down to my local police station and report to the police that Bitstamp wouldn't let me redeem my Ripple Dollars
Sorry just can't help laughing when I think about the look on the policeman's face.P.S. I don't see any mention of "IOUs" on the Bitstamp website; I don't really see the mention of anything, there is basically no text at all.