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D. Hart}, J. Econ. Theory 9, 293-311 (1974)]. We also examine the relationship between the no unbounded arbitrage condition and the sufficiency conditions of Hart [ibid.] and \\textit{P. J. Hammond} [ibid. 31, 170-175 (1983; Zbl 0523.90016)]. We present an example to show that if traders are not sufficiently risk averse, then Hammond's overlapping expectations condition is not, in general, equivalent to the no unbounded arbitrage condition or Hart's sufficiency conditions, and therefore, is not sufficient to guarantee the existence of equilibrium. 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