Voluntary society and contracts for dummies.
Posted on: April 14, 2021 at 16:02:47 CT
TigerMatt MISS
Posts:
85458
Member For:
25.23 yrs
Level:
User
M.O.B. Votes:
0
Business A and business B want to do business together.
Business A and business B hold contract negotiations.
In those contract negotiations, all the terms of the contract are spelled out. This includes dispute resolution and contract enforcement.
Business A and business B sign the contract.
Business B later has a disagreement with Business A. Business A says they were abiding by the terms of the contract and Business B says they aren't.
The dispute resolution section of the contract takes effect. Likely this is a third party arbitrator previously agreed upon during contract negotiations with formal consent given at signing.
The third party arbitrator rules in favor of Business B. Say Business A owes Business B money. Business A still refuses to pay Business B. The enforcement section of the contract kicks in. A new third party enforcement business who was set up in the new free market, goes to Business A's bank and shows them the arbitration order. The bank surrenders the money out of Business A's account to the enforcer and the enforcer gives it to Business B.
No government necessary.