"If there is a typo, error, fraud, crime etc. a contract is considered invalid or the part of the contract that is flawed"
With software bugs you have something similar :
> NO WARRANTY. THE SOFTWARE IS PROVIDED TO YOU “AS IS” AND “WITH ALL FAULTS.”
"Oh, that contact for 1000 dollars is really 10 dollars because they 'missed' a decimal place. You still have to uphold your part though."
Corruption of judges can be a problem in that space and that is in part what this is attempting to solve. A lofty goal, maybe even impossible, but certainly worth the time to try.
[even had a typo in the first publish of this comment!]
Situation was basically a table rendered in prose format. I can’t recall the precise verbiage, but it read something like: In 2015, the requirement shall be 0.05%. In 2016, the requirement shall be 0.7. In 2017, the requirement shall be 0.09%
Very subtle typo which, had it been treated as The Truth of The Text would have bankrupted anyone attempting to adhere to the regulation.
That sounds like a terrible amount of power to give someone without a vote.
If I offered a new car for 10€ — obviously it should have been 10k€, so others cannot expect me to fulfil that (ask your local police).
If I had offered it for 8.5k€ and suddenly claim it should have been 10k€, it’s far from obvious that this was a mere error, so I’d likely have to stand for it.
If I offered a used car for 10€, the case becomes murky.
Which is why people don't understand basic human institutions and are surprised when they run into issues trying to re-invent from scratch
Aside from everything. In writing a contract, it's very common to write price with numbers and letters in brackets next to them. E.g. 1000$ ( one thousand dollars ), exactly because typos happen.
The decision what a typo is is made by the parties, in case of dispute then by several courts ( based on the evaluation of the contract ). That's at least in continental law system.
There's a way to specify a 3rd party court ( non-corrupted one, called arbitrage ) which can solve disputes for that contract.
Corruption of judges problem is being fixed also in several ways. Usually decisions in high courts are decided by 3 judges ( again continental law ) and sometimes a jury ( prevailing in anglo-saxon law system ). Also there is a way to appeal the decision of the court to a higher court(s).
I certainly distrust the American legal system enough to use something like this in the future.