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Re: [ontolog-forum] Modeling a money transferring scenario

To: "[ontolog-forum]" <ontolog-forum@xxxxxxxxxxxxxxxx>
From: Mike Bennett <mbennett@xxxxxxxxxxxxxxx>
Date: Tue, 11 Jan 2011 21:07:13 +0000
Message-id: <4D2CC681.2010100@xxxxxxxxxxxxxxx>
Thanks for that - I wasn't aware of the wider usage, that makes a lot of sense.

It also reinforces Peter Brown's point that ontologists are not domain experts and vice versa. I guess sometimes I can't resist jumping when I see what appears to be wild guesswork about the meanings of words. I think the interesting challenge is identifying which community of practice is best placed to be the owner of the most generally applicable definition of a concept, and then find the standards they use, and (if these are not ontologies), reverse engineering those standards into some formal ontological representation. Hence my harping out about REA for example.

Mike

On 11/01/2011 20:57, Simon Spero wrote:
On Tue, Jan 11, 2011 at 2:53 PM, Mike Bennett <mbennett@xxxxxxxxxxxxxxx> wrote:
Fungible means that for two things which are fungible, one can be directly replaced with the other, without any effect.
[...] 
This is a formal and well understood concept, so there is not much need to reinvent it.

That's mostly right (no legal effect).  The set  of things count that count as equivalent  can be defined by usage of trade, and to specific agreement amongst parties:

 "Fungible goods" means: (A) goods of which any unit, by nature or usage of trade, is the equivalent of any other like unit; or (B) goods that by agreement are treated as equivalent.  UCC § 1-201 (b) (18)

So it might be possible for houses to be fungible if the parties involved agree to it (though because houses are Real property, the UCC doesn't apply, and since Real property law is weird, there may be some block).  There are plausible situations involving properties bought for investment purposes where fungibility would make sense.  

Simon
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