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Part III The Principle of Nominalism, 13 Nominalism, Private International Law, and the Lex Monetae Principle

Charles Proctor, Dr Caroline Kleiner, Dr Florian Mohs

From: Mann on the Legal Aspect of Money (7th Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 30 March 2023

Foreign currency systems and institutions — Nominalism — Monetary obligations — Valorism
13.01 It has been noted elsewhere1 that, so far as English law is concerned, obligations expressed in sterling or in a foreign currency are now to be treated on broadly the same footing. This, however, should not be taken to imply that private international law has no role to play in the field of monetary obligations.2 This point, should, in many ways, be obvious. For instance, many contracts governed by English law will include obligations expressed in currencies other than sterling, and a description of a foreign currency obligation inevitably rests to some...
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