Is the paper in the vault the contract - or the record of the contract?
So, for example, if you destroy the paper, does the law say you have
destroyed the contract? (02)
> -----Original Message-----
> From: ontolog-forum-bounces@xxxxxxxxxxxxxxxx [mailto:ontolog-forum-
> bounces@xxxxxxxxxxxxxxxx] On Behalf Of Mike Bennett
> Sent: 07 July 2011 17:37
> To: [ontolog-forum]
> Subject: Re: [ontolog-forum] Why most classifications are fuzzy
> There is no problem describing financial products ontologically.
> Calipers are not a requirement. All financial products are contracts, and
> contracts are a real thing regardless of whether they consist of paper in
> vault (as a few still do) or are maintained electronically.
> If you don't think contracts are real, try breaking one :)
> The dimensions along which they are defined are, as you rightly suggest,
> where it gets interesting. One look at the ISO 10962 Classification of
> Instruments standard will show what a challenge it is to try and
> shoe-horn the whole lot into one dimension - you simply can't.
> On 07/07/2011 16:21, David Eddy wrote:
> > John -
> > On 2011-07-06, at 12:45 PM, John F. Sowa wrote:
> >> And a warning: Unless you can find an immutable law of nature that
> >> creates a classification, don't expect it to be a solid foundation
> >> for a "standard ontology".
> > Agreed.
> > My view of (imagined) reality has been largely financial services
> > (e.g. mutual funds, brokerage, banking,& various forms of insurance).
> > In my career, I have only worked directly for a single firm that
> > actually made a physical product (junk jewelry)...
> > otherwise everything has been paper pushing, describing various facets
> > of non-dimensional products.
> > Quite naturally, since these industries are all conjured out of thin
> > air, there are no natural laws to impose organizational discipline.
> > From what I've seen, "organization" is largely the last minute panic
> > to make the next deadline. Does tend to leave a chaotic residue which
> > only gets worse over time.
> > Since this ontology interest has arisen, it has been rattling around
> > in the back of my mind if ontologies can be applied to things like
> > financial "products."
> > Personally I vacillate between describing financial "products" as
> > either "non-dimensional" or "N-dimensional." In any case these
> > products are stuff that cannot be put on a scale& weighted or have a
> > caliper applied to them. It's just information which as far as I know
> > we have no idea how to measure other than silly things like "lines of
> > code."
> > ___________________
> > David Eddy
> > deddy@xxxxxxxxxxxxx
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