Intro.I.01 The first part of this text considers both the concept of money and the nature and organization of a monetary system. Intro.I.02 Chapter 1 considers the general concept of ‘money’, and examines the attempts that have been made to formulate a satisfactory legal definition of this elusive term. As will be seen, it is the view of the present writer that such a definition serves only a limited value in a private law context, where the notion of ‘payment’ is likely to be of far more practical importance. Nevertheless, it remains necessary to formulate a...
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