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Part II The Private Law of Monetary Obligations, 5 The Interpretation of Monetary Obligations—Initial Uncertainty

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: 29 January 2023

Liquidated and unliquidated monetary obligations — Performance of monetary obligations — Money and the conflict of laws — Dollar — Sterling — Banker-customer contract
5.01 The interpretation of a monetary obligation involves two key elements namely (1) the identification of the currency in which the obligation is expressed (usually referred to as the ‘money of account’); and (2) the ascertainment of the amount required to be paid by reference to the currency so identified.1 5.02 This may appear to be a statement of the obvious, and (in most cases) so it will be. But the identification of the currency in which an obligation is expressed will, in occasional cases, cause extreme difficulty. For present purposes, it is proposed to...
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