Not saying this isn't a great situation, and I'm impress that you found out this glitch.
It just that it would happen a lot less if GMs gave out the offers that the free agent ask for, and if that means you need to overpay to get him, then do so.
How then are we going to monitor to make sure every player is signed for the asking number of years? Are you willing to write down the demands on every player and then follow up afterwards to make sure every player is signed to the number if years they asked for?
n00b's proposal to the BoG makes the most sense because it solves most of the problem, and the easiest to integrate and carry out. Your way will be extremely time consuming and difficult to implement. Unfortunately issues need to be regulated, we can't just use an honour policy; most of us will abide by the rules but some teams would likely still try to get an advantage.
Edited by mpt, 13 February 2013 - 11:41 PM.