[extropy-chat] Extropy and libertarianism - a search fo rmeaning...

[Mike Lorrey]

--- Giu1i0 Pri5c0 <pgptag at gmail.com> wrote:

> Very interesting!
> The immediate question that comes to my mind is that, suppose you and
> I register a contract with ICA and accept that it will be regulated
> by
> the CEP, then we have a disagreement, resort to their arbitrations
> services, and they decide that I have to pay you 1000 bucks, and I
> don't want to pay, how do you get your money?
> I just love the idea, but how does it work in practice???

Either ICA pursues action against you on my behalf in whatever
geographic jurisdiction they find you in, or else you get a black mark
on your reputation, so that any other ICA signatory you seek to
contract with would see that you are a bad actor, so you wind up
imposing economic sanctions on yourself, at least with other ICA/CEP
signatories.

Granted in a world where there are few people who are CEP signatories,
it doesn't mean much unless you are in a jurisdiction that recognises
the CEP. Now, it helps immeasurably that the CEP is a significant
simplification of the common law (yet more objective and fair than the
UCC), so any common law nation should theoretically be able to
interpret our contract and enforce it in a similar manner.

Generally speaking, any nation with a UCC or similar recognition of
contract law is going to regard the fact that you have a contract with
me, that specifies ICA as our arbitrator, as legally binding you to pay
me. If you refuse to pay a judgement, and I have to pursue legal action
in whatever jurisdiction I find you in, most systems let me  recover my
costs from you when they decide that the judgement against you is good.


As soon as they do so, I can take that judgement of the original
judgement to whatever sheriff or other similar functionary wherever you
are, and, given they are the chief enforcer of judgements for the
courts in their jurisdiction, will find your assets, seize them, and
auction them off unless you immediately pay me what you owe me. The
sheriff can keep seizing your stuff until I get fully paid.

Mike Lorrey
Vice-Chair, 2nd District, Libertarian Party of NH
Founder, Constitution Park Foundation:
http://constitutionpark.blogspot.com
Personal/political blog: http://intlib.blogspot.com


	
		
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