Finance::


Foreclosure and Private Forfeiture
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Property acquired before negotiation and appropriation of a loan
cannot be taken by the lender in case of default unless the loan
contract at issue specifically identifies said property as subject to
forfeiture in case of borrower non-performance (default).  Any
property not serving as a means of livelihood, and acquired after
appropriation of a loan, can upon court authorization be seized as
repayment in the case of default.  The debt is reduced by the fair
market value of the seized property, and if a surplus results, that
surplus must be delivered to the borrower.

On Bankruptcy
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No individual or incorporated entity can receive state protection from
creditors, and no state protection from losses is available to
creditors or depositors.  For corporations, unresolved debts are the
continuing joint responsibility of the incorporated entity's
stockholders, for each in proportion to his share of ownership.

Assets and Obligations at Time of Death
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Each party who is the prospective beneficiary in a contract with an
individual (in this section, this individual is identified as the
``decedent'') is entitled to recompensation if that individual dies or
becomes by injury permanently incapable of performing in
accordance with the terms of the contract.

Recompensation can be by delivery of the current MMSE, or through any
settlement method specified in the contract.  When a settlement method
other than the MMSE is available, the beneficiary must accept it and
cannot demand an MMSE settlement.  The party currently in custody of
an item, the delivery of which constitutes full settlement of a
contract, can at his discretion settle the contract with an MMSE,
which the beneficiary must accept as full settlement.

Any party who is the beneficiary in a contract with the decedent, and
who is also party to a contract in which the decedent is the
beneficiary, must assign the MMSE's of those contracts in which the
decedent is the beneficiary to the settlement of those contracts in
which the decedent is not the beneficiary, provided that any
settlement agreement reached by the beneficiary and the estate of the
decedent takes precedence.

When no specified settlement method is feasible other than delivery of
the MMSE, settlement must be accepted in the form of (1) monetary
metals or contractual currency at market rates, or (2) designation of
the beneficiary as the beneficiary of a pre-existing contract between
the decedent and another party in which the decedent was the
beneficiary, or (3) reassignment of the material or land assets of the
decedent at fair market value, or (4) through designation of the
beneficiary as the beneficiary of a pre-existing contract between two
parties in which the beneficiary party became party to the contract as
the result of a gift by the decedent, or (5) through reassignment to
the recipient of a gift or gifts given by the decedent, of a
contractual obligation of the decedent, only if the recipient received
the gift or gifts after this contractual obligation was originally
incurred, and only if the MMSE of the reassigned obligation is equal
to or less than the market value of the gift or gifts.

When multiple beneficiaries seek recompensation, settlement must give
priority to a contract signed at an earlier time.  Settlement of a
more recently signed contract cannot commence until all earlier
contracts have been settled.

Recompensation must proceed first through untransferred assets (assets
held by the debtor at the time of his death) and then through
transferred assets (assets transferred by the debtor to others before
his death).  Within a class of assets (transferred or untransferred),
recompensation must first proceed through monetary and other fungible
assets, thence to assets without sentimental value, thence to
reassignment of contractual beneficence, and finally to assets with
sentimental value.  Only after all of these avenues of recompensation
have been exhausted can there be a reassignment of contractual
obligation.  The declaration of sentimental value is performed by the
prospective inheritors or recipients on the bases of their choice.
The inheritors or recipients can, at any time, volunteer currency
equal to the fair market value of an item, which the beneficiary of an
obligation must accept in lieu of the non-fungible asset.

Obligations which cannot thereby be settled or reassigned are nullified.

In the presence of a will, those assets which remain after settlement
of obligations are assigned according to the will, with the designated
beneficiaries exercising discretion (before settlement begins)
regarding preferred form of obligation settlement as though it had
already been transferred as a gift.  In the absence of a will,
remaining assets are assigned wholly to the partner, or in the absence
of a partner, divided evenly among the genetically closest tier of
relatives giving preference to the younger and closer tiers.

On Money
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Contractual money is any contract between a private guarantor (the
issuer) and any entity that can be a party to a contract, which can be
arbitrarily transferred, wherein the issuer is bound to exchange the
money for a redemption value, on demand but possibly only after a
certain date, as agreed to.

The following restrictions apply to all contractual money.

Except in the initial issue, the issuer cannot control the transfer of
money it guarantees.

Only an incorporated entity can issue contractual money.  The
incorporated entity must publicly announce any issue of contractual
money, revealing particularly the quantity issued, the expiration
date, and the terms of the money contract.

The state cannot issue contractual money.

The redemption value of any contractual money must not include any
contractual entitlement; in particular, the redemption value cannot
include contractual money.  After redemption, no contractual
obligation or entitlement can remain in connection with the money
redeemed.

In no case can holders of contractual money demand by way of
redemption that the issuer dedicate more than 33% of its production or
service capacity within a particular domain, as defined in
, figured over a one month period, to the fulfillment of
currency obligations.  To resolve conflicts among redeemers,
redemption is on a first-come first-served basis.

All contractual money must specify an expiration date, after which it
is null and void.  In the case that fulfillment of money contracts by
the issuer is delayed because the proportion of performance capacity
dedicated to money fulfillment is already at or above the maximum
legally mandatable level, the expiration date of the currency is
extended until all money presented in a timely manner for redemption
has been fulfilled.

For money to be enforceable at court, a contract tax must be paid on
it prior to its issuance.  For each year of enforceability, the
current baseline proportion of the money must be paid as taxes.  The
tax is paid using a portion of the money being issued.  All taxes must
be paid prior to any other issuance of the money.

The national unit of state must retain in escrow the money thereby
assigned to it for 80% of the lifetime of the money, a period
hereinafter called the escrow period.  The state must make publicly
available detailed information on its complete inventory of escrowed
money, revealing particularly the quantity held, the issue date, the
expiration date, and the terms of the contract.

At any time after the escrow interval has elapsed, the state can
present the money to its issuer for redemption or can exchange it in
profitable or fair market activities, and in any case must redeem or
exchange it before it expires.

Whenever money is redeemed before the escrow period has elapsed, a tax
refund is forthcoming, equal to the contract taxes paid for the money
redeemed covering the interval from the time of redemption to the time
of expiration.  The tax refund is effected by voiding that proportion
of the escrowed money.

No law can affect the mining, refining, minting, use in trade, and
custody, by individuals and incorporated entities, of precious
minerals, including gold, silver, platinum, palladium, and diamonds,
in any quantity, as negotiable currency or otherwise, except as
specified in this document.

The Loan
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A loan is a contract between two parties (each an individual or
incorporated entity) in which one or more items or entitlements
are transferred from a lending party to a borrowing party, and
the borrowing party is bound to minimum settlement terms of future
action specified in the contract. Any number of non-monetary minimum
settlement methods can be specified, in addition to the required
MMSE.

A sale or trade, in which two parties exchange items as a single
transaction creating no post-transaction obligations between them,
cannot be construed to be a loan, even if a contract of trade or sale
is entered in advance of the transaction.  The single transaction
constituting the sale or trade can involve a period during which one
party has custody of items he has received from the other party and of
items to be transferred to the other party.  This period is ended when
custody of those items destined for the other party is relinquished,
and until this period is ended, none of the items can be put to any
use not implicated in the aforementioned relinquishment of custody.

No loan can specify obligations for either party which apply after the
performance of a settlement method.  No loan can forbid, or specify
penalties for, early settlement.

A simple loan is a loan that does not make the borrower the
beneficiary of some contract, and in which the borrower can settle the
loan by returning the loaned item(s) to the lender provided he has
otherwise adhered to the terms of the contract.  Simple loans can
obligate the borrower to initial and periodic payment or other
performance, monetary or otherwise.  Legislation cannot affect the
terms of simple loans.

No loan contract can specify restrictions or requirements regarding
employment of item(s) loaned, provided that damage to or loss of
item(s) can be subject to penalty.

A contract loan is a loan in which the lender transfers to the
borrower the benefits and entitlements of some contract.  A contract
loan is not a simple loan.  A simple loan is not a contract loan.

For purposes of law, contractual money is a contract loan, even though
the borrower may borrow only tangible goods.

The exchange of a loan for a loan is a trade, and cannot be construed
to be a loan between the parties to the transaction.  The exchange of
a loan for a service or tangible goods, when neither party is the
borrower identified in the loan, is a trade and cannot be construed to
be a loan between the parties to the transaction.

An arrangement of storage or accounting in which the party managing
storage or accounting has no decision-making authority with respect to
the items stored or accounted for cannot be construed to constitute a
loan to the managing party.

No law can require a party to be or become a party to a loan, or
prohibit a party from, or reward or punish a party for, being or
becoming a party to a loan, or change its manner of application on
that basis, except insofar as an individual who has breached a
contract can by court order be impaired in his ability to enter and
enforce contracts.

The state cannot be a party to a monetary loan in which the other
party is non-state, except that the state can hold contractual
money.

Insurance
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For the purposes of this section, a party is either an individual, an
enumerated set of individuals, or an incorporated entity.

Insurance is a contract, known as a ``policy,'' in which the insuring
party is bound to perform a specified action or set thereof which
materially benefits a beneficiary party, in the case that the policy
is triggered.  All parties to the policy are named therein.

The policy trigger is the transpiring of one or more events affecting
the insured party, specified in the policy, in a manner specified
therein.

The insured party can be equal to the beneficiary party.  All parties
to the policy must formally agree to it by cryptographic signature.  A
policy can obligate the beneficiary to periodic payment to the
insurer, without which the insurer can be relieved of his obligations,
if so specified in the policy.  As with any contract, an MMSE must be
specified, by which the insurer can free himself of all obligations.
The beneficiary is responsible for timely payment of contract taxes,
as a baseline proportion of the MMSE.

Only an incorporated entity can be an insuring party.

A monetary insurance policy is a policy that triggers explicitly upon
the event that another policy or set thereof triggers, or triggers on
the basis of ripe contractual obligation or responsibility for payment
as a consequence of contractual non-performance, or on the basis of
the financial standing of the beneficiary, and in particular, on the
net financial liabilities of the beneficiary.

No incorporated entity can simultaneously be an insuring party in one
monetary insurance policy and a beneficiary party in another monetary
insurance policy.

No policy can trigger on the basis of liability for law-breaking, or
expenses incurred as a consequence thereof.

No law can require a party to be or become a party to an insurance
policy, or prohibit a party from, or reward or punish a party for,
being or becoming a party to an insurance policy, or change its manner
of application on that basis.

The state cannot be a party to an insurance policy.