Jamal Awil

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A signed weight slip definitively proves diamond club transactions. [fact]

When a deal is physically concluded on the floor of the DDC, a document akin to an integrated writing is frequently, but not always, produced. After the parties have either made an oral agreement or gone through the formalities of cachet-that is, at a stage in the transaction where the parties already consider themselves bound-they take the goods to be weighed by a club employee who issues them an official weight slip. The slip is then signed by the person who gave the stone to the club official, most commonly, though not exclusively, the buyer, and the terms of payment and the price are added. If the sale was concluded in accordance with the rule of open cachet, the cachet parcel is included in the bag with the stone and the official weight slip. Only one copy of the slip exists, and it is retained by the seller. If a dispute later occurs, the club's dispute resolution bodies consider the slip to be definitive evidence of both the stone's weight and the existence of the transaction.

Lisa Bernestein, Opting out of the Legal Sys…, loc. 65