… or so is the assertion in the Atlantic, where a Harvard law professor explains this peculiar – some say ridiculous and unfair – property of US federal law. It is a federal crime to violate terms of service. “This rule of American law is absurd — especially in a world where prosecutors can’t be trusted to make reasoned and proportionate judgments about who should be labeled a felon and who should not. A breach of contract is a breach of contract. It is not an act of treason. It is not a threat to the realm. If every breach of contract worth more than $5,000 were a crime, Manhattan wouldn’t be the world’s most amazing city. Manhattan would be a federal penitentiary, with every prominent Wall Street firm very well represented. Fail to execute a trade on time? Two years in jail. Back out on an acquisition? Thirty to life.”
Jan 182013