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Part II The Private Law of Monetary Obligations, 3 The Character of Monetary Obligations

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, 2022. All Rights Reserved.date: 29 September 2022

Liquidated and unliquidated monetary obligations — Performance of monetary obligations
3.01 It has already been observed1 that one of the most important functions of money is to serve as a general medium of exchange or payment. Money, where it is legal tender, serves as the means of fulfilling many obligations, whether compulsorily imposed or voluntarily contracted. Furthermore, in the context of almost any claim (contractual, tortious, or otherwise) the defendant must ultimately discharge his obligations by means of a monetary payment.2 3.02 With these general considerations in mind, it is necessary to attempt a formulation which defines a monetary...
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