Completeness and Cocompleteness of R Smod1 N

In this paper we formalize the concept of absolutely convergent infinite series by introducing the notion of prenormed R-semimodule with N-summation, where N is an arbitrary class. The morphisms between such semimodules are the contractive homomorphisms of R-semimodules that `preserve" N-summation. The category _R Smod _{1 N} of all prenormed R-semimodules with N-summation and their morphisms (composition being the set-theoretical one) fails to be an algebraic category. However, under quite general conditions it is both complete and cocomplete.