IGN:
@3point
Other Users Involved in this Contract:
@_Royal_Vulpes_
General Purpose of Contract:
The investment of $100,000 toward EcoCity Bank.
I (the contract initiator) agree to the following terms, and agree that my failure to complete such terms will result in a breach of contract, as outlined in Rule 3: Yes
- At least once a week, @3point must pay @_Royal_Vulpes_ all carryover fee profits received from EcoCity Express Cards that are funded with @_Royal_Vulpes_ investment.
- @3point insures that @_Royal_Vulpes_ can withdraw his entire principal plus any net profits made with his investment within 4 weeks of notice.
The other user(s) involved with this contract must agree to the following terms:
- @_Royal_Vulpes_ must pay @3point $100,000 within 24 hours of this contract's approval.
I agree that the terms in this contract are subject to all of EcoCityCraft's rules, including the rules listed specifically in this forum. I understand that the contract may be affected by future changes in EcoCityCraft rules and server updates, and I accept that due to the possibility of such changes, this contract may be at my own risk. I understand that the contents of this contract are subject to staff assessment, review and approval before it is a binding contract under EcoCityCraft rules. I accept that action may not be taken in case of a breach of contract if appropriate and sufficient evidence is not provided of such.:
I agree.
- Thread Status:
- Not open for further replies.
Thread Tools
Thread Tools
-
-
_Royal_Vulpes_ The Fox EmperorECC Benefactor Builder ⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ I ⭐ Premium Upgrade
IGN:
@_Royal_Vulpes_
I, as another party to this contract, agree to the terms laid out for me to uphold, and understand that failure to complete such terms will result in a breach of contract: I agree to the terms of this contract. -
UnitedStates2 BuilderBuilder ⛰️ Ex-President ⚒️⚒️ Gameplay Architect Premium UpgradeThe provision here is unenforcable as money is fungible. There's no way to tell what a "specific" $100,000 is used for, and whether money used in a certain "express card" deal is coming from you or @_Royal_Vulpes_. Payments here will need to be fixed.
-
That's a good point. What if this was explicitly stated in the following spreadsheet, http://tinyurl.com/ecocitybank? Is this enforcable?
-
UnitedStates2 BuilderBuilder ⛰️ Ex-President ⚒️⚒️ Gameplay Architect Premium UpgradeUnfortunately not, because the graph still leaves the possibility of someone giving the investors the low interest rate loans and thus returns and the resulting disputes from that (In addition to the fact that the books can be cooked because the balance is really only actually known between the user who has the account and you - unless staff were constantly logblocking all chests and checking against your books, which is unfeasible from a staff enforcement prespective). You could do fixed rates as said above, perhaps based on the expected rate of return from your business model, but if you insist on variable rates, you could perhaps have it so that week-by-week payments are based on your discretion within a certain range (ie 4-8% return on investment per week, for a random example). This system would obviously be heavily based on trust in that you aren't lowballing the returns, but the system you have here is based on it too anyhow and this one doesn't involve any unenforcable provisions.
-
Informative x 1 - List
-
-
@UnitedStates2
Thanks for the explanation. I'll have this locked for now while I think of a solution.
- Thread Status:
- Not open for further replies.