Points & Authorities in Support of IBOE

[ThomPaine]

A while back I requested some information on a document for which I was searching. I finally received the document and though it's quite lengthy at about 13 pages in Word, there is some interesting information in there. Some is old news and some is new, at least to me. This is an edited version as there was some weird formatting in the original that made it difficult to read, hopefully this version is better.

Caveat Emptor as I do not know the author. Many passages are cited or footnoted and you are advised to do your own research.

Not to be construed as legal advice and this is purely for entertainment.

Thom

[sheisaceo]

Thank you ThomPaine

[I am Siren]

Thanks so much, Thom, this doc ties a lot of loose ends right up! (Helps me understand David Merrill's "hypothecation" theories so much better!)

Thanks again!

-- Siren

[indio007]

nice piece of work there. It just totally pointed me in the right direction especially regarding the birth certificate

[TruthQuest]

(Helps me understand David Merrill's "hypothecation" theories so much better!)

All credit card agreements, mortgage agreements, and other loan agreements today contain only one signature or those signatures of one party. They are unilateral agreements (one sided). They are not bilateral (two sided). They are nothing more than pledges where one contracts them self.


TQ

[indio007]

how do you delete posts?

[indio007]

Originally Posted by TruthQuest

All credit card agreements, mortgage agreements, and other loan agreements today contain only one signature or those signatures of one party. They are unilateral agreements (one sided). They are not bilateral (two sided). They are nothing more than pledges where one contracts them self.


TQ

Thats because you are signing as the authorized representative for a corporation sole.On top of that they are giving you an offer do be part of there "visa club". In which case you need to follow the rules of the "club". In couldn't possibly be a contract anyway because you aren't receiving anything of value. That won't support a simple contract at law. The consideration you are getting in exchange for your signature is becoming a visa "member" which apparently gives you the right to a line of credit that is redeemable in non-redeemable federal reserves notes at a penal interest rate or towards "consumer purchases". Merchants are under the same penalty for redeeming your "payment vouchers" for electronic credits at a penal interest rate. Great club huh?

[mrg]

Originally Posted by indio007

how do you delete posts?

Edit out everything in the post and replace it with:

..........................


or the words "post deleted"

or something like that.


You cannot actually erase the evidence of having posted at all, only mods, or admin can do that, but you can erase all the content, and replace it with something like what I suggested above.

[Shoonra]

Originally Posted by indio007

Thats because you are signing as the authorized representative for a corporation sole. ... It couldn't possibly be a contract anyway because you aren't receiving anything of value. That won't support a simple contract at law.....

Wrong on two counts. First, the fact that the contract or the subscription form is generated by the bank (or the credit card company) shows that the bank is agreeing to these terms and is willing to form a contract with you on those terms, so all that remains is your signature.

Second, you are receiving something of value with a credit card. You are getting the convenience of buying goods and services without having to pay cash on the spot. Essentially this is a sort of loan of money by the bank. That you obtain goods and services, even though you don't see cash, is sufficient consideration for a contract.

Further, your signature on the credit card purchase receipt in the store repeats your pledge to pay the amount according to the terms of the credit card agreement.

The banks and credit card companies are smart enough to hire lawyers who are capable of working up a contract that cannot be evaded.

[Shoonra]

Originally Posted by indio007

Thats because you are signing as the authorized representative for a corporation sole.... It couldn't possibly be a contract anyway because you aren't receiving anything of value. That won't support a simple contract at law.

Wrong on two counts.
The fact that the bank (or credit card company) has printed up the credit card agreement is sufficient evidence that the bank has agreed to the terms it is offering, so all that is required is that you also agree, which you do by signing their form. If you don't agree to the terms they printed then you do not sign their form, and then some further negotiation is necessary (although I think the banks are doing well enough that they don't have to bother with anyone who wants to reject their terms as offered).

Second, the bank is providing something of value. It is enabling you to purchase goods and services without having to hand over cash at the point of purchase. This is essentially a loan of money even though you don't see the cash itself. This is very definitely a valuable convenience, and is the sort of valuable consideration that supports a contract. Morever, your signature on each credit card purchase receipt reaffirms your promise to pay the bank according to the terms of the agreement.