"CURRENT FUNDS" AS "MONEY" IN COMMERCIAL PAPER

Authors

Abstract

By the Uniform Negotiable Instruments Law, §1 (2), it is provided that an instrument to be negotiable "must contain an unconditional promise or order to pay a sum certain in money"; and by Section 6 (5) it is declared that "the validity and negotiable character of an instrument are not affected by the fact that * * * [it] designates a particular kind of current money in which payment is to be made." The Illinois statute inserts before the word "designates" the following: "Is payable in currency or current funds, or." There is nothing in the language of the statute further indicating what is "money".

Recommended Citation

"CURRENT FUNDS" AS "MONEY" IN COMMERCIAL PAPER, 22 Mich. L. Rev. 826 (1924).
Available at: https://repository.law.umich.edu/mlr/vol22/iss8/7