Mango Labs’ $47 million civil suit against crypto trader Avraham Eisenberg is a case study in how the ideals of crypto governance and DAOs take a backseat to real-world contracts law. reaDannyNelson reports
But that negotiated proposal holds no legal water, according to lawyers at Canadian law firm McMillan LLP interviewed by CoinDesk.
He and colleague Reuben Rothstein said they were surprised Mango’s core contributors ever proposed invalidating their claims – and surprised, too, that the vote passed. Indeed, Mango Labs’ suit against Eisenberg casts aside its “negotiated settlement” with Eisenberg as “unenforceable” and requests the court toss it aside.
In contract law, if a party is forced against its will to enter into an agreement, then that contract is null and void,What’s notable here is that the deal was on a smart contract created with the principals of on-chain governance in mind.
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