Money, means current coin; metal stamped in pieces as a medium of exchange and measure of value. Hence, anything serving the same purpose as coin, late ME. In mod. use applied indifferently to coin and to such promissory documents representing coin as are currently accepted as a medium of exchange, Shorter Oxford English Dictionary; see also C.I.T. v. Kasturi & Sons Ltd., (1999) 3 SCC 346.
Money, the Black's Law Dictionary 5th Edn., defines the word 'money' thus: 'In usual and ordinary acceptation. It means coins and paper currency used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate, Lane v. Railey, 280 Ky 319, 133 SW 2d 74, 79, 81. See also Currency; Current money; Flat money; Legal tender; Near money; Scrip; Wampum. A medium of exchange authorized or adopted by a domestic or foreign Government as a part of its currency, VCC $1-2-1(24).' Stroud's Judicial Dictionary, 5th Edn., defines it as follows: 'Money as currency and not as medals, seems to me to have been well defined Mr. Walker in Money, Trade and Industry, as: 'That passes freely from hand to hand throughout the community, in the final discharge of debts and full payment for commodities; being accepted equally without reference to the character or credit of the person who offers it, and without the intention of the person who receives it to consume it or apply it to any other use than in turn to tender it to others in discharge of debts or payments for Commodities', Per Daling J., Moss v. Hancook, 1899 (2) QB 111) CP Cash. xxxx xx. But the word 'money' answers to the Barbarian's Latin word 'moneta', and is a genus that comprehends two species, viz. Ready money and money due, i.e. the money in tentatoer's own hands, or his money in the hands of anybody else' (per Gilbert C.B., Re Shelmer, 1725 Gilb Ch 200).' Seeds and Fertilizers, is property, but not money, Lalit Mohan v. State of Uttar Pradesh, AIR 2000 All 197.
Money as currency, and not as medals, seems to me to have been well defined by Mr. Walker in Money, Trade and Industry, as ' that whichpasses freely from hand to hand throughout the community in final discharge of debts and full payment for commodities, being accepted equally without reference to the character credit of the person who offers it and without the intention of the person who receives it to consume it or apply it to any other use than in turn to tender it to others in discharge of debts on payment for commodities.'' This was adopted by Darling, J., as a definition in Moss v. Hancock, (1899) 2 QB 111 (116).
In bequests: '' Money in the strict sense ' means, as I understand, ' money actually in hand as cash or at a bank on drawing account . . .'' [Warrington, L.J., in Taylor (:in re), (1923) 1 Ch 99 (108)]. '' Money ' is to be treated in the strict sense unless there be a context which shows something to the contrary' (ibid.). In Emerson (:in re), (1929) 1 Ch 128, a gift of 'the residue of money at the time of my death' was held to include the residuary personal estate. In Mellor (:in re), (1929) 1 Ch 446, a gift of 'the remainder of any moneys' following an express direction to pay debts was held to carry both real and personal property. In Collings (:in re), (1933) Ch 920, it was held that 'money' in its strict legal sense included money on deposit account at a bank. For an extreme case, see Re Hodgson, (1935) 52 TLR 88, and notes thereon in Law Quarterly Review, January, 1936, Vol. 52, p. 3.
Includes a cheque, postal order, demand draft, telegraphic transfer or money order. [Prize Chits and Money Circulation Scheme (Banning) Act, 1978 (43 of 1978), s. 2(b)]
View Judgments Citing this Phrase View Acts Citing this Phrase