INTRODUCTION
Money and payment are at the epicentre of commercial and financial transactions. Suppose that A and B are in a creditor–debtor relationship. Determining how B can discharge the debt will first depend on the contractual agreement between the parties, but also the unit of account – the measure of the value – of the debt obligation, and the mode of performance that can constitute payment, for instance tendering coins and banknotes, making an electronic transfer or even using virtual currencies. he issue is thus one of everyday importance if we are to understand the substance of monetary obligations and how they can be discharged. Despite this, the legal understanding of both money and payment is rather evasive. Indeed, tender and payment are often confused and there exists uncertainty surrounding the precise moment an act will constitute payment and be deemed as having discharged the relevant obligation ….
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Alexandra Kosta-Foti, Money, currency and contracts: an alternative view of RTI Ltd v MUR Shipping BV, King’s Law Journal. Published online: 20 January 2025.
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