Latvian Twist on Faust

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4 Responses

  1. Steven Lubet says:

    It’s a very small point, but €700 is closer to $1000 than to $500 (at about $1.40 to each Euro).

  2. A.J. Sutter says:

    “Perhaps the danger is that this firm, reputable enough, may assign the contract to a disreputable one, perhaps one with links to the devil?” — In which case this type of transaction could give new dimensions to the notion of “moral hazard”.

  3. A.J. Sutter says:

    BTW, how exactly does one perfect the security interest in this case? Did the Latvian government establish a registry? If not, does the lender rely on some kind of pledge? In what does that subsist? And in practice, what does the creditor do with the collateral once it has foreclosed? Absent a devilish aftermarket, maybe the entrepreneur is just setting himself up to be haunted. (I note that existence of immortal souls does not per se imply the existence of infernal realms or a Final Consumer.)

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