An abstract study of the theory
of fractional ideals of a commutative ring is begun. In particular, the definition of
principal element in a multiplicative lattice L is used to define a lattice of fractional
elements, L∗, associated with L. As one application of this definition a theory of
Dedekind lattices is developed. This construction also allows the development of an
abstract theory of integral closure for a Noether lattice. This theory will be presented
in a further paper.