Bonds can still be purchased even when Basis Cash trades above 1 DAI (P > 1), however this nets the purchaser a loss when redeemed. For example, when 1 BAC = 1.1 DAI, a Bond is sold for 1.1 BAC. Since all Bonds can only be redeemed for 1 Cash, this yields the purchaser a net loss. Thus, bond purchases are only expected to occur when 1 BAC trades below 1 DAI. Although bond purchases at a BAC price above 1 USD is allowed in the contract, it is disabled in the Basis Cash frontend to avoid user confusion.