Sovereigns: 0.03s
Shares: 2 shares in Glowing Manta
1 share in Audacious Crustaceous
3 shares in Northern Route Cooperative
Moving on, will the chart contract be paid afterward if we shareholders agree to do so? I suppose the price would be 1/10 a share of the actual cost for the contract. We'd probably need Wares-To-Sell Corp to agree to the trip but being able to pay the cost afterward should be good incentive?
We'd need majority approval to change the destination, but that shouldn't be too hard to get, given we (NRC) hold a majority of Manta shares already. I would suggest that chart fees count as the cost of regular operation, although it just occurred to me that that could be used to screw over other investors, since we (NRC) could set the cost to something extortionately high, then vote to pay it, leaving TCK with the choice of paying way too much or having his shares seized. Amusing as that would be, it was not my intention, so I'm going to propose a change to the contract that makes it clear that decisions that would impose an optional cost can be vetoed.
Also a question on if to offer that to a ship with only a single shareholder on it.
I see no reason why not to offer a sole-proprietor-ship the same terms as anyone else.
Anyway. Here's the current Glowing Manta contract:
The undersigned agree to share-based joint ownership of a trading vessel to be named "Glowing Manta", which shall initially traverse the NearEastlands route.
Each investor receives shares equal to the number of Sovereigns they contribute. 10 shares are available. Each share entitles the holder to 1/10th of the goods delivered by the Glowing Manta upon returning to harbour. Each share also requires the holder to pay 1/10th of any costs incurred in the regular operation of the vessel (eg repairs), failure to pay resulting in shares being seized and auctioned, with proceeds paid out to remaining shareholders.
Any changes to the Glowing Manta's operations require a majority of shares to agree. Any changes to this contract require all shares to agree.
Signed,
-Radiant Trading for 2s
-Wares-To-Sell Corp for 3s
-Corsairs Incorporated for 3s
-Fairchild Enterprises 2s
And here is my proposed amendment:
Adding:
"Any decision that would impose an optional cost (eg chart fees) may be vetoed by any shareholder. A shareholder who has gone AWOL does not automatically veto."
And changing:
"failure to pay resulting in shares being seized and auctioned, with proceeds paid out to remaining shareholders."
to:
"failure to pay resulting in shares being seized and auctioned, with proceeds first used to cover the costs and, should any money remain, returned to the former shareholder."
Signed,
-Radiant Trading: YES
-Wares-To-Sell Corp:
-Corsairs Incorporated:
-Fairchild Enterprises: