This paper raises a problem for the pair of views that universals are immanent in their instantiations and that these instantiations, or states of affairs, are somehow constructed from the instantiated universals. It is argued that the pair is inconsistent. The first view implies that universals are prior to states of affairs, whereas the second view implies that states of affairs are prior to universals. This paper does not attempt to solve this problem, but rather to formulate it precisely. That promises to illuminate how to solve the problem if it can be solved, or why it cannot be solved if it is unsolvable.

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