Note Exchange

Parties
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Properties
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Disclosure: Public
Sentiment: Equitable
Pledge
TERMINATED (this contract is no longer in effect)

Contract Text
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This is a public contract and a pledge by the name of "The Note Exchange".

For each pitch of Note, the corresponding Credit is a currency, and
the corresponding Marker is a fixed currency. The recordkeepor of
Credits and Markers generally cannot create them by announcement.
Credits and Markers generally cannot be destroyed by announcement,
and ownership of Markers is restricted to parties to this contract.

Any party to this contract except Ivan Hope CXXVII can leave it by
announcement if e holds no Markers.

If a person holds more Notes of a pitch than Markers of that pitch, e
can, by announcement, award eirself both a Credit and a Marker of that
pitch. A person shall not take any action that would cause em to hold
less Notes of a pitch than Markers of that pitch.

If a person holds a Credit and a Marker of the same pitch, e can by
announcement destroy both of them.

A person is in debt with respect to a pitch iff e holds more Markers
of that pitch than Credits of that pitch.

If a person holds a set of Credits, e may by announcement redeem the
Credits, specifying a person who holds a matching set of Markers, a
manner of spending Notes defined by Rule 2126, and any parameters
required for that manner of spending Notes. A person CANNOT redeem a
set of credits unless the redeemee is in debt with respect to every
pitch in the set, or the redeemee has consented to the redemption.

When a set of credits is redeemed, the Credits and Markers are
destroyed, and the redeemee shall spend the Notes in the specified
manner with the specified parameters as soon as possible.

Recent Events
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Wed, 21 Oct 2009 13:48 - Walker terminates Note Exchange