It is definitely Randi (and of course you have the evidence because once again it's already in the wording of the challenge itself

):
It is very clear that the contract is between Randi and the applicant - this is still very much Randi's challenge - albeit administrated by the JREF.
Regrets if I misrepresented you, Darat. But I interpreted this as you saying it was Randi's challenge and that he has the final say on who passed or didn't.
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Look. I am not anti-Randi. Far from it. I think his work is exactly what the whole world needs in fighting and dispelling woo, fraud, unscientific quackery and all the pain and disillusionment associated with these things. Additionally, concerning the Challenge, I think Randi
would like to see someone legitimately pass a test. Randi seemed excited in September '02' when Yellow Bamboo seemed to pass their test, and (I think) Mercutio has stated that Randi has stated that science and humanity might benefit with a new field of scientific inquiry a successful applicant may open up.
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Secondly, I have heard the legal arguments here. I understand well that if an applicant who (hypothetically speaking) was declared successful by the test-givers but overuled by Randi can sue for breach of contract. I understand this, and thank those for taking the time to write them out.
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My point (and I will write this for the final time because this bloody heap of ooze that used to be a horse is now starting to fester) is that paranormalists of a higher profile nature may not be applying because they think that Randi holds all the trump cards.
One reason why is because there is no stipulation on who has the final say of success if an applicant has passed a test: the (supposedly) impartial test-givers or Randi. High profile paranormalists who have been in the business for a while may see this in the rules and conclude that Randi can successfully manufacture very good sounding rationale (when can't he?) to show how an applicant failed a test though the test-givers, who haven't been in the business as long as Randi, showed that test-taker to have passed. To them, it may seem as if Randi (someone who is admittedly hostile to paranormalists)has too much leverage in the test, and therefore, do not apply for higher (benefit to humanity) or lower (selfishness and greed) purposes.
Yes, I understand that people responding to this thread have said that if Randi overules the test-givers, then this would be breach of contract. However, there is no rule saying WHO JUDGES final success or failure and that Randi can't overule the test-givers. Thus there there would be no breach of contract and no evidentiary grounds for litigation for the unlikely successful applicant--if it were the highly unlikely case that Randi were to overule the test-givers.
So, if you will, step out of JREF mode for an instant. If you're a higher profile psychic, why get into a challenge:
When you think the other side holds all the cards?
When you think you probably won't or can't win?
When you will probably lose your reputation as a psychic and thus lose your income?
I just believe that if there were a rule saying that the test-givers decide if a claimant passed, then there might possibly be more higher profile psychics getting in touch with Randi for the benefit of whomever. And even if a claimant passed and Randi wasn't too certain of the test, Randi could always attend the formal test, n'est pas?