News for hackers. Stuff that matters.

A comment on Jump Trading sues 79-year-old Carl Sagan fan over wormhole.com domain. Parent comment

Re:Jump Trading sues 79-year-old Carl Sagan fan over wormhol... by Supermancho on Sunday May 01, 2022 @08:51PM (#31230242)
I don't think that's a contract you want to engage in. There are no terms for timing. A dollar today or in 10 years? It will be difficult to prove these details were known or that the offer took place at all, which is why you want things in writing - which is the case for wormhole.com. It's also interesting to note that a verbal contract is not sufficient to form a contract at price points over a few hundred dollars.

Take from this what you will.

[ Parent | on HN ]
Re:Jump Trading sues 79-year-old Carl Sagan fan over wormhol... by NovemberWhiskey on Sunday May 01, 2022 @09:21PM (#31230430)
I think you'd be surprised how liberally courts have discovered implied terms in contracts where the parties have omitted them. There's a whole body of law on it, and courts have demonstrated considerable unwillingness to void contracts for uncertainty.

Also: about a zillion successful purchases at yard sales indicate to me that this is a pretty good way to form contracts of sale.

[ Parent | on HN ]
Re:Jump Trading sues 79-year-old Carl Sagan fan over wormhol... by dragonwriter on Sunday May 01, 2022 @10:35PM (#31230845)
> Also: about a zillion successful purchases at yard sales indicate to me that this is a pretty good way to form contracts of sale.

In yard sales (and most retail situations, too), contracts of sale are usually formed with the tender of payment buy the prospective buyer for a specific set of items at a price stated by the seller as the offer, and acceptance of the tendered payment as the acceptance; they sale contract is formed fully executed, not as an executory (with some obligations still unfulfilled) contract.

[ Parent | on HN ]
Re:Jump Trading sues 79-year-old Carl Sagan fan over wormhol... by mod on Sunday May 01, 2022 @10:29PM (#31230813)
How many of those zillion contracts have been tested in a court of law? (As that is the relevant context here)
[ Parent | on HN ]
Re:Jump Trading sues 79-year-old Carl Sagan fan over wormhol... by ghayes on Sunday May 01, 2022 @09:13PM (#31230382)
The original circumstances were, in fact, written, and the example quoted above was below such threshold. As such, I wouldn’t believe the note on verbal contracts is relevant to the matter at hand.
[ Parent | on HN ]