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Market Cap:
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TheBlock
2020-03-09 17:33:51

The 1World token lawsuit and the perils of bad contracts

The 1World token lawsuit and the perils of bad contracts

Quick TakeNew lawsuit in San Mateo County Superior Court by 1World Online Inc. against Blockchain Generation seeks damages for breach of a so-called “Token Barter Agreement”Plaintiff says that they were promised ICO tokens and consulting services in exchange for 1World tokens, but defendants failed to deliverPoorly drafted contract drafted at height of ICO boom may complicate the case if defendants answer the lawsuit and mount a vigorous defenseAlso possible that status of tokens as unregistered securities – if that is the case – could complicate case resolution 

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