This is a quote from the book "B-Money" by Wei Dai
...nits of money to Bob (owner of pseudonym K_B), she broadcaststhe message "I give X units of money to K_B" signed by K_A. Upon thebroadcast of this message, everyone debits K_A's account by yone debits K_A's account by X units and credits K_B's account by X units, unless this would create a negative balance in K_A's account in which case the message is ignored.

3. The
s. A valid contract must include a maximumreparation in case of default for each participant party to it. It shouldalso include a party who will perform arbitration should there be adispute. All...
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