FIBOFND12 — Not all transferable contracts are unilateral

The definition of transferable contract is an equivalence of a number of restrictions with both written contract and unilateral contract. Not all transferable contracts are unilateral, however.

Unilateral contract should be eliminated from the intersection, and, per the FIBO development policy, the two min 1 QCR restrictions in the intersection should be changed to someValuesFrom.

Not all transferable contracts are unilateral

The definition of transferable contract is defined as the intersection of written contract, unilateral contract, and several restrictions - that it confers some commitment, that it has a minimum of 1 ContractPrincipal and that it has a minimum of 1 ContractCounterparty.

This definition is overly restrictive and should be loosened to eliminate the requirement for being a unilateral contract. Further, the min 1 restrictions should be changed to someValuesFrom, which is more efficient from a reasoning perspective. Without eliminating the constraint that a transferable contract must be unilateral, the FIBO FBC specification cannot depend on this concept as a parent for security.

This resolution depends on the resolution of FIBOFND12-7.