ContractsProf Blog

Editor: Myanna Dellinger
University of South Dakota School of Law

Friday, August 28, 2009

Another Blood Contract

We reported earlier this year about a contract written in blood.  In that case, Plaintiff Kim opened his appellate brief with the statement, "Blood may be thicker than water, but here it's far weightier than a peppercorn."  Both at the trial and appellate level, California's courts disagreed and refused to enforce a gratuitous promise, even if memorialized in the defendant's blood.

Perhaps business schools ought to develop a course called Blood and Contracts, because today's New York Times reports on another blood contract. According to the Times, the Chief Financial Officer of Stanford Financial asserts in a plea agreement that his boss, R. Allen Stanford, and the chief regulator of his Antigua Bank swore a "blood oath" by cutting their wrists and mixing their blood in a "brotherhood ceremony."  Unlike the Kim case, however, here other consideration is alleged.  The bank regulator allegedly received Super Bowl tickets and regular bribe payments from a Swiss bank account.  In return, he is alleged to have ensured that regulatory bodies in Antigua would not interfere with what is now being described as a $7 billion international Ponzi scheme.

[Jeremy Telman]

In the News | Permalink

TrackBack URL for this entry:

Listed below are links to weblogs that reference Another Blood Contract:


Post a comment

If you do not complete your comment within 15 minutes, it will be lost. For longer comments, you may want to draft them in Word or another program and then copy them into this comment box.