Proto-judgement:

This message contains my judgement of CFJ 3735, called by Baron von
Vaderham, with the stament: "There was only one valid bid, namely for 1
coin by CuddleBeam."

Caller's arguments
==================

> Trigon bid 2 Mexican pesos.
> Mexican pesos are coins.
> Valid currency for this auctions is coins
>
> Since Trigon bid two coins, and nowhere was it stated that the only
> legal tender was an AGORAN coin, I argue that there were TWO valid bids.


Caller's evidence
=================

omd wrote:
> Sent: Thursday, June 13, 2019 10:49:21 PM
> To: agora-busin...@agoranomic.org
> Subject: BUS: Re: OFF: Dollar Auction
>
> On Wed, Jun 5, 2019 at 12:29 AM omd  wrote:
> > I hereby initiate an Auction.  I am the Auctioneer and the Announcer;
> > the currency is coins, and the minimum bid is one coin.
> >
> > This Auction contains a single lot, and that lot contains a single\
> > item, namely,
> >
> > ONE UNITED STATES DOLLAR.
>
> As the Announcer, I announce the end of this Auction.  There was only
> one valid bid, namely for 1 coin by CuddleBeam.  E is the winner of
> the only lot, and is now required to transfer payment.

Gratuitous arguments from V.J. Rada
===================================

> Words take their ordinary meaning when not defined by the rules. Coins are
> defined by the rules as "the official currency of Agora tracked by the
> Treasuror" under rule 2483 "Coins". A currency is "a class of asset defined
> as such by its backing document". A backing document is a rule or Contract.
> Therefore pesos, which are defined by the laws of Mexico, are not coins.

Timeline
========

All times are UTC.

2019-06-05 07:29

  omd initiates an auction, specifying "the currency is coins".

2019-06-05 12:57

  Cuddle Beam announces: "I bid 1 coin."

2019-06-06 21:24

  Trigon announces: "I bid TWO UNITED STATES DOLLARS."

2019-06-07 01:59

  Trigon announces: "I bid TWO MEXICAN PESOS."

Judgement
=========

The below is essentially V.J. Rada's argument, plus a bit more about
what "UNITED STATES DOLLARS" and "MEXICAN PESOS" are.

Rule 2550 regulates bidding in auctions:

> A person authorized to bid on an Auction CAN do so by
> announcement, specifying the amount of the Auction's currency to
> bid.

The Rules define a currency as "a class of asset defined as such by its
backing document". Rule 2166 ("Assets") defines assets to be entities
"defined as such by a document that has been granted Mint Authority by
the Rules", and defines the only kinds of document that have Mint
Authority: rules and contracts.

The question is: did either of Trigon's bids specify an amount of the
auction's currency?

The auction's currency is "coins". The rules only define one currency
called "coins". I don't know whether any contracts exist that also
define currencies called "coins", but if there are any they haven't been
seen in a while. So it's clear that omd was referring to the currency
"Coins" defined by Rule 2483.

In the ordinary language sense, "UNITED STATES DOLLARS" and "MEXICAN
PESOS" are units of currency. They could conceivably refer to coins, but
they only way the could refer to Agoran Coins is if Trigon was using
Agoran jargon I'm not aware of, and that doesn't seem likely. (Slightly
relevant: G. recently posted on the discussion list about CFJ 3663,
which has some observations about jargon.)

I judge CFJ 3735 TRUE.

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