Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Libertarian Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Gulo who wrote (5425)	4/16/2003 12:14:54 PM
From: Wildstar	Read Replies (1) \| Respond to of 13056

I mostly agree with your post, but have reservations about the single default standard. IMO the single default standard would end up becoming the law that everyone must agree to, rather than being able to define their own terms through contract when possible. Suppose I made a contract today with a surgeon in which we agree to terms to the exchange, along with an agreement to limit liability to fixed rates for given complications. For example, if I need my gallbladder out, the doctor might say, "I'm very good, but in 0.5% of my gallbladder surgeries, a bile leak occurs that could potentially elongate your hospitalization by a week. If we use the jury system for such an occurrence, I might be out of work. So I agree to give you the average of 2 months of both of our wages in such a scenario. Agree?" Suppose I agree. Suppose the complication occurs. Suppose that I change my mind about the contract and seek to take him to public court. Will the court see my case, or will they shoo me away when they see the contract? I think the former is likely to happen today. And I think that having a default law makes this all the more likely. Contracts are more likely to be discarded and rendered illegitimate in favor of what is seen as "objective" law. So my belief is that any and every contractual relationship should be settled by non-governmental arbitration. Again, I realize that this is seen as very radical, but I believe it is the best solution.