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We contemplate the notion of ambiguity in mathematical discourse. We consider a general method of resolving ambiguity and semantic options for sustaining a resolution. The general discussion is applied to the case of `fraction' which is ill-defined and ambiguous in the literature of elementary arithmetic. In order to clarify the use of `fraction' we introduce several new terms to designate some of its possible meanings. For example, to distinguish structural aspects we use `fracterm', to distinguish purely numerical aspects `fracvalue' and, to distinguish purely textual aspects `fracsign' and `fracsign occurence'. These interpretations can resolve ambiguity, and we discuss the resolution by using such precise notions in fragments of arithmetical discourse. We propose that fraction does not qualify as a mathematical concept but that the term functions as a collective for several concepts, which we simply call a `category'. This analysis of fraction leads us to consider the notion of number in relation to fracvalue. We introduce a way of specifying number systems, and compare the analytical concepts with those of structuralism.