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Part II The Private Law of Monetary Obligations, 6 The Interpretation of Monetary Obligations— Subsequent 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, 2022. All Rights Reserved.date: 03 July 2022

Subject(s):
Monetary obligations — Monetary system — Monetary sovereignty — Foreign currency systems and institutions
6.01 The money of account, though originally clearly defined, may become uncertain during the life of the legal relationship. This may occur in three categories of cases, namely: Each of these possibilities must be considered in turn.1 6.02 A State may seek to legislate in a manner which affects subsisting monetary obligations. For example, a State encountering serious economic problems may provide that foreign money obligations are henceforth to be settled by payment to a State agency in the domestic currency;2 similar action might be taken by a State which...
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