While it is not recommended that players should be under the influence of multiple oaths at the same time (or indeed start swearing oaths at the drop of a hat), sometimes a character will develop a valid reason for swearing a new oath in addition to an existing one.
In such cases, the oath points for each oath will need to be kept track of separately (and are not transferable between oaths), and the maximum number of oath points a character may posses for each is reduced by 1 for each additional oath that is sworn (to a minimum of 1).
For example, a character who has sworn two oaths can accumulate a total of 2 oath points for each oath, whereas a character with three or more oaths may only have one point for each. In addition, any character that becomes an oath-breaker loses all of his/her oath points - not just those relevant to the oath that has been broken.
Finally, if a character breaks multiple oaths during the same adventure (or on a regular basis), the GM may decide that the character in question becomes cursed. If this happens, the GM gains oath points of his/her own (usually one per adventure), which may be used on the cursed character to downgrade one skill test by one step (i.e. the reverse effect of a regular oath point). This continues until such a time as the character redeems him/herself in some manner (e.g. attempts to fulfil one of his/her broken oaths) or until a sufficient time as passed (as determined by the GM).