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# Action - `{{ buyram }}` | ||
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This Contract is legally binding and can be used in the event of a dispute. | ||
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### Description | ||
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The `{{ buyram }}` action... | ||
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### Inputs and Input Types | ||
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The `{{ buyram }}` action requires the following `inputs` and `input types`: | ||
This action will attempt to reserve about {{quant}} worth of RAM on behalf of {{receiver}}. | ||
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| Action | Input | Input Type | | ||
|:--|:--|:--| | ||
| `{{ buyram }}` | `{{ payerVar }}`<br/>`{{ receiverVar }}`<br/>`{{ quantVar }}` | `{{ account_name }}`<br/>`{{ account_name }}`<br/>`{{ asset }}` | | ||
{{buyer}} authorizes this contract to transfer {{quant}} to buy RAM based upon the current price as determined by the market maker algorithm. | ||
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As an authorized party I {{ signer }} wish to buy {{ quantVar }} worth of RAM using the funds of {{ payerVar }} with the RAM to be owned by and be the property of {{ receiverVar }}. | ||
{{buyer}} accepts that a 0.5% fee will be charged on the amount spent and that the actual RAM received may be slightly less than expected due to the approximations necessary to enable this service. | ||
{{buyer}} accepts that a 0.5% fee will be charged if and when they sell the RAM received. | ||
{{buyer}} accepts that rounding errors resulting from limits of computational precision may result in less RAM being allocated. | ||
{{buyer}} acknowledges that the supply of RAM may be increased at any time up to the limits of off-the-shelf computer equipment and that this may result in RAM selling for less than purchase price. | ||
{{buyer}} acknowledges that the price of RAM may increase or decrease over time according to supply and demand. | ||
{{buyer}} acknowledges that RAM is non-transferrable. | ||
{{buyer}} acknowledges RAM currently in use by their account cannot be sold until it is freed and that freeing RAM may be subject to terms of other contracts. | ||
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All disputes arising from this contract shall be resolved in the Enumivo Core Arbitration Forum. |
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