And I said, "Gerry, in my whole life I've never talked about abrogating a contract".
Bachelorhood might be an undesirable lifestyle, but it should not abrogate a man's rights.
Argentina's decision to abrogate private contracts was a crucial part of the package, said John Hempton, an Australian hedge fund manager who has studied what happened.
"It's illegal for them to abrogate our contract".
"If the government has the ability to abrogate the contract at will and at the expense of the bond holder, the investor is going to do one of two things: require a tremendous premium for the risk they are incurring, or just not invest at all," Mr. Bentsen said.
The fax did not say that he had lost much of his authority, or that his five-year contract to manage Turner Broadcasting had been abrogated a year early.
A carmaker's bankruptcy would abrogate workers' contracts, and probably lead to sharply reduced wages and benefits for any jobs that remain.
In November, in the midst of the talks, Kazakhstan's Parliament passed a law allowing the government to abrogate oil contracts, unnerving the companies.
"We abrogate contracts all the time, particularly the contracts of insolvent financial institutions," he says.
Ultimately, though, a receiver may have to be appointed — which is to say, a person not beholden to the voters, who would nonetheless have the power to abrogate union contracts and do whatever else he or she deems necessary to erase the deficit.
