----- Original Message ----- From: "C. Cormier - Ormetal Inc." <[EMAIL PROTECTED]>
> In law, there is such thing as "undivided property". Someone can > have a title on part of a whole. This part does not need to be > defined in other way than saying it is x% of the whole. > > The owners of an "undivided property" own a title not a claim. I've sometimes wondered how GoldMoney would settle up if they decided to go out of business. Of course, an account holder with enough gold grams to constitute a whole bar could just bail out a bar. Thousands of other account holders could not bail out gold, because they have title to portions of undivided property, in this case undifferentiated gold grams. Obviously one way to distribute the property to the smaller account holders would be to sell the gold for currency and send out checks accordingly. I can't think of any other way, really. Is this in fact what GoldMoney would do if they decided to go out of business? I suppose these same questions apply to e-gold as well. In the case of e-gold you can't bail bars out because the gold is held in a trust, but I guess liquidation and distribution is the only way e-gold could meet the liabilities of this trust. -- Patrick --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
