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Lawyers used sheepskin as anti-fraud device for hundreds of years

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61–70 of 88 posts

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#61
post #22

Earlier quoted context omitted.

Is the phrase,"get short end of the stick" originate from this?

This is a (modern, mistaken) conjoining of two similar phrases - drawing the short stick (where you hold five sticks / matches, in your hand one of which is cut short but no one can tell cos they are held in someone's hand) - Grabbing the shitty end of the stick. Which seems fairly obvious if a stick was used for any clearing out style work. (there seems to be no obvious "short end" of a stick)

[deleted]

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#62
post #22

Earlier quoted context omitted.

Is the phrase,"get short end of the stick" originate from this?

This is a (modern, mistaken) conjoining of two similar phrases - drawing the short stick (where you hold five sticks / matches, in your hand one of which is cut short but no one can tell cos they are held in someone's hand) - Grabbing the shitty end of the stick. Which seems fairly obvious if a stick was used for any clearing out style work. (there seems to be no obvious "short end" of a stick)

[deleted]

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#63

Earlier quoted context omitted.

"So Banksy created a not-for-profit company, Pest Control" I now want Banksy to name my future endeavors.

> I now want Banksy to name my future endeavors. "If you’re thinking of writing in to ask Banksy to paint your sitting room or design your company logo - please don’t." I guess you are out of luck here, but if you don't mind aiding and abetting the commission of a trespass - maybe you can trade in. "If you’re thinking of writing in because you have privileged access to a secure facility that needs vandalising - pleas…

So you're saying that you first need to found your startup as a dystopian venture with a secure facility that needs vandelising, then rebrand your company around the art created?

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#64
post #49
post #23

Earlier quoted context omitted.

My understanding is that these were used as what we currently refer to as treasuries. I.e., debt that the government owes to an investor. So, if you want to lend the government some money, you get half a piece of wood with some notches indicating how much you lent. Then when it is time to collect you go to the government show them your piece of wood and if it matches you get your money plus whatever interest. So if t…

So it is in the best interest of the government to get a rasp and file some of of their side of the block. Nothing will match and thus they don’t have to pay.

If the government wants to default on its debts it can generally just do so. People lend money to the government because they choose to trust it for various reasons.

If the government decided to say tomorrow that $100 bills with serial numbers AB1234567000-AB12334567999 were counterfeit and should not be accepted, what do you think would stop them?

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#65
post #2

As a related aside, split pieces of wood--so the holder could check and see the pieces matched up--were also used as an anti-fraud device ( https://en.wikipedia.org/wiki/Tally_stick ). Apparently, these pieces of wood are were we get the term "stock." In case you ever wondered why the word for an ownership share is the same word as "stick, trunk, block of wood, or post" (Germanic / Dutch / Old English), this is appar…

So these non-fungible blocks that proved you had a stake... could you maybe trace back the transaction history for a piece of property using some kind of chain of these blocks?

Maybe a future blockchain would be based on biology in silico and rates of mutation would be the coin.

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#66
post #41
post #6

Earlier quoted context omitted.

That doesn't answer the question, because the point of the two halves is that they are independently recording the contract. If we use a split stick to record how much money you owe me, and I simply add more marks to mine, to pretend you owe me more, it's obvious that I'm cheating. But if I simply split a brand-new stick and add marks on it, then our sticks won't match up at all. How will a court know which is the or…

Let's say we cut notches perpedicular to where the split will be, and then split through the notches. If you cut more notches in your side of the wood, it will be obvious that you've done so - the two sides will fit together perfectly in shape and in grain, but one side will have extra notches. It's not like I could have filled in the notches on my piece.

[deleted]

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#67
post #45
post #8

Earlier quoted context omitted.

From what I can tell (this is not my field), at least as concerns the English state, the tally stick was divided into the "stock," which was kept by the state, and the "foil," which went with the individual. This video shows a number of examples of stocks (apparently few foils survive) and how they recorded debts. https://www.youtube.com/watch?v=0rxAYSXJ41Y . It explains that they were used to record money that was d…

Another old process (ancient?) a teacher of mine once mentioned is that of always having three witnesses to any official transaction (usually one being a Notary to record) and two other people present. Having three people present is a way to protect against he said/she said.

You only need 1 witness for that. The first two are the parties.

3 is an enhancement for redundancy. Habit an odd number is a false confidence. Think about it: what happens if you have 4 witnesses? They could tie? How is that worse, as it adds more information that maybe 2 of the first 3 are lying or wrong?

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#68
post #67
post #45

Earlier quoted context omitted.

Another old process (ancient?) a teacher of mine once mentioned is that of always having three witnesses to any official transaction (usually one being a Notary to record) and two other people present. Having three people present is a way to protect against he said/she said.

You only need 1 witness for that. The first two are the parties. 3 is an enhancement for redundancy. Habit an odd number is a false confidence. Think about it: what happens if you have 4 witnesses? They could tie? How is that worse, as it adds more information that maybe 2 of the first 3 are lying or wrong?

Having just the notary there relies on trusting the notary to be an impartial party, with just one witness in addition to the two parties there's only one point of verification meaning only one person you have to corrupt to be able to lie about what happened. Bringing in more people increases the size of the conspiracy required to lie about the transaction.

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#69
post #6

Earlier quoted context omitted.

That doesn't answer the question, because the point of the two halves is that they are independently recording the contract. If we use a split stick to record how much money you owe me, and I simply add more marks to mine, to pretend you owe me more, it's obvious that I'm cheating. But if I simply split a brand-new stick and add marks on it, then our sticks won't match up at all. How will a court know which is the or…

I dont understand. Its straight up told that the party giving the money had the longer stick, meaning the party with most to lose had to match the longer stick

> I don't understand

Think about two situations:

Firstly, if I lend you money, we split sticks, then I throw away my stick and get a new stick that says I lent you more money.

Secondly, if you lend me money, we split sticks, then I throw away my stick and get a new stick that says you lent me less money.

In both cases you're claiming my stick is clearly counterfeit because it doesn't match yours and I'm (falsely, but nobody knows that except the other party) claiming your stick is clearly counterfeit because it doesn't match mine.

What happens next? We're no better off than if we only had a verbal record and were disagreeing. So what is the point in the sticks?

Understand?

Re: Lawyers used sheepskin as anti-fraud device for hundreds of years

#70

Earlier quoted context omitted.

"So Banksy created a not-for-profit company, Pest Control" I now want Banksy to name my future endeavors.

> I now want Banksy to name my future endeavors. "If you’re thinking of writing in to ask Banksy to paint your sitting room or design your company logo - please don’t." I guess you are out of luck here, but if you don't mind aiding and abetting the commission of a trespass - maybe you can trade in. "If you’re thinking of writing in because you have privileged access to a secure facility that needs vandalising - pleas…

I didn’t say I wanted banksy to make art for me. I want him to make up a name. It was poignant. It used real words with all of the letters, and not some trendy drop the vowels BS
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