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A theoretical model for blood flow in ramifying arteries was introduced and studied numerically (Quarteroni and Veneziani, 2003). A special experimental condition was considered on the artificial boundaries. In this paper, the aim is to analyze the well-posedness of this model, with the focus on the stilted boundary conditions. We use Brouwer’s fixed point theorem to show the existence of a solution to the stationary problem. For the evolutionary version, we use some energy estimates and Galerkin’s method to prove global existence, uniqueness, and stability of a weak solution.