Re: [Rails-devel] Further 1835 testing

[John D. G. <jd...@di...>]

> Erik Vos wrote:
>> The PR share unit size is 5%, so a 10% certificate is two shares.
>> The 1835 rules do not very clearly distinguish between certificates and
>> shares, but we have to.

Stefan Frey wrote:
> You are right from a logical and an implementation point of view. Still I find 
> the wording confusing, because of two reasons:
> 
> A) 1835 and PR specific
> For me (thus subjective) in 1835 the share unit for PR seems to be 10%. So if 
> I would use the word share (see below) the 5% shares are more like half a 
> share.  This also corresponds to the standard in 18xx, where most of the time 
> the 10% is the typical share unit.
> 
> A) The word in shares in this context
> For me a share is still more associated with the actual certificate than the 
> participation right. Due to this reason I would prefer the error message to 
> make this clear. Otherwise the user might get confused because he does not
> distinguish between share and certificate here. Example: "T3 cannot buy 1 
> certificate(s) with 10% of PR from IPO)".

3) Most people's definition of a "share" is such that the stock price chart
gives the price of one share.  Therefore, a "share" is 10%.