12.01 Chapter 11 considered various means by which the application of the nominalistic principle may be avoided or modified. It has been implicit in that discussion that there was no general consideration which might vitiate any such arrangement. But it is now appropriate to consider the matter explicitly. Is the principle of nominalism such an entrenched part of monetary law that attempts to disregard it should be viewed with suspicion and struck down by the courts? This chapter will consider the possible areas of objection to clauses which seek to avoid the...
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