# Interpretation `kaal:entity:interpretation` **Status.** derived This node is assembled mechanically from the 6 claims that carry the concept tag `interpretation`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself. ## Every claim under this term 6 claims across 4 works, 2014 to 2025. **2014** - [2447306-025](https://wulfkaal.github.io/claims/2447306-025) [empirical/evidenced] *(failure mode)* -- Regulatory assets under management is an unstable reporting concept: commenters split evenly on whether Form PF's RAUM questions required them to interpret the term in order to answer. > Commenters were equally split on whether Form PF questions pertaining to calculating RAUM required filers to interpret RAUM for purposes of completing Form PF. Wulf A. Kaal, Private Fund Disclosures Under the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2447306 **2017** - [3017612-032](https://wulfkaal.github.io/claims/3017612-032) [normative/argued] -- Because shareholder agreements are designed to displace corporate formalities such as majority rule, it is reasonable to require that the intended degree of deviation be set out explicitly in the agreement. > When a shareholder agreement is included in the corporate charter or bylaws, it becomes subject to amendment as provided therein or by statute. Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612 **2019** - [3406323-032](https://wulfkaal.github.io/claims/3406323-032) [failure/argued] *(failure mode)* -- Smart contracts fail to accommodate human business interaction because code does not follow the same logic on similar terms as natural human language, so the flexibility in interpreting intent that human dealings require cannot be ensured. > Human interaction requires flexibility in interpreting intent that cannot be ensured by smart contracting because smart contract code does not follow the same logic on similar terms as natural human language. Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323 **2025** - [5886342-008](https://wulfkaal.github.io/claims/5886342-008) [design/asserted] -- Interpretation of the Codex must give priority to the intent of the parties and to the specific context of the legal status or act in question, rather than to a literal or purely systemic reading. > (2) The interpretation of UDLC provisions shall pri- oritize the intent of the Parties, the specific context Furrer Andreas, Wulf A. Kaal, Stephan D. Meyer, Universal Digital Law Codex (UDLC) (2025). SSRN: https://ssrn.com/abstract=5886342 - [5886342-009](https://wulfkaal.github.io/claims/5886342-009) [design/argued] *(failure mode)* -- Where the Codex or the applicable law is applied largely automatically, the human understanding of the rule prevails over the outcome produced by that automated application, so automated execution never becomes the final authority on meaning. > In interpreting UDLC and Applicable Laws, the hu- man understanding shall prevail over the outcome Furrer Andreas, Wulf A. Kaal, Stephan D. Meyer, Universal Digital Law Codex (UDLC) (2025). SSRN: https://ssrn.com/abstract=5886342 - [5886342-010](https://wulfkaal.github.io/claims/5886342-010) [design/argued] *(failure mode)* -- When an encoded legal status or act is disputed, the code is read against the party who selected the programme or determined the manner of coding, because the other party had no influence over it; the Codex names this in dubio contra programmatorem. > interpreted in favour of the Party who has had no in- Furrer Andreas, Wulf A. Kaal, Stephan D. Meyer, Universal Digital Law Codex (UDLC) (2025). SSRN: https://ssrn.com/abstract=5886342 ## Verify Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust. curl -s https://wulfkaal.github.io/entities/interpretation.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.