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#92 - Explaining the 2022 UCC Amendments, with Professor Carla Reyes

Law of Code

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The Role of a Governance Contract in Ookie-Dow

If something happens where there is harm to particular investors or groups of people, a duty will be imposed. And unless you get ahead of that, someone else will impose it for you. A la ookie-dow. I mean, so they're like, we're nothing. Yes, you are. You did nothing. So you're a general partnership. You should have adopted a governance contract and then you could have avoided some of it. But anyway, yeah. In a case like that, Carla, how would a governance contract hypothetically work in the case of something like ookies dow?

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