Double Token LeXscroW Ricardian Tripler

Smart contracts for the adoption of Double Token LeXscroW Agreement as a 'ricardian triple'.

How does it work?

• MetaLeX sets up the Ricardian tripler factory with the legal agreement form and approved factories as set forth in Setup
• Parties to a prospective or existing Double Token LeXscroW navigate to an approved factory and become legally bound to a properly corresponding legal agreement by undertaking the steps set forth below

Adoption/Signing

A few steps are required.

Firstly, the parties must come to an agreement regarding the proposed deal's terms including the tokens, amounts, any conditions, expiry time, and for the legal agreement:

• Confirming suitability and acceptance of the applicable MetaLeX form legal agreement's terms, the IPFS hash of which will be supplied to legalAgreementURI
• governingLaw: string input of the governing law that applies to the agreement
• disputeResolutionMethod: string input of the dispute resolution method that applies to the agreement

Once the specifics of the AgreementDetailsV1 struct pertaining to the parties' deal are determined, there are two final steps for adoption:

1. Propose and Deploy

A party calls either:

• (a) deployLexscrowAndProposeDoubleTokenLexscrowAgreement() to deploy a Double Token LeXscroW contract with the same parameters included in the passed AgreementDetailsV1, or
• (b) proposeDoubleTokenLexscrowAgreement() including the parameters to an already-deployed Double Token LeXscroW in the passed AgreementDetailsV1, in each case in an AgreementFactoryV1.

The AgreementFactoryV1 creates a RicardianTriplerDoubleTokenLexscrow agreement contract containing the provided proposed AgreementDetailsV1. In either case, the details include all of the parameters used to construct the Double Token LeXscroW contract, as well as each party's name and contact details, the legal agreement's URI, and elected governing law and dispute resolution method.

If option (a) is chosen, the deployed Double Token LeXscroW will have an automatically-added condition that the deployed RicardianTriplerDoubleTokenLexscrow agreement be signed by both parties in order to execute.

2. Confirm and Adopt

To confirm the details and formally adopt the RicardianTriplerDoubleTokenLexscrow, the other party to the applicable Double Token LeXscroW calls confirmAndAdoptDoubleTokenLexscrowAgreement() with AgreementDetailsV1 matching the pending agreement's details, contract address, and the address of initial proposing party. The factory adds the RicardianTriplerDoubleTokenLexscrow contract address to the DoubleTokenLexscrowRegistry, updating both the agreementsand signedAgreement mappings.

A user may check if a RicardianTriplerDoubleTokenLexscrow agreement was mutually signed (and thus recorded in the registry) by passing its address to the signedAgreement mapping in the DoubleTokenLexscrowRegistry; if it returns true, the agreement's details are then easily accessed by calling getDetails() directly in the RicardianTriplerDoubleTokenLexscrow contract address.

Each party's onchain transaction to propose and confirm (as applicable) the agreement details constitutes legally binding action, so each transacting address should represent the decision-making authority of the applicable party.