Show Summary Details
Commercial Law

Commercial Law (3rd edn)

Eric Baskind, Greg Osborne, and Lee Roach
Page of

Printed from Oxford Law Trove. Under the terms of the licence agreement, an individual user may print out a single article for personal use (for details see Privacy Policy and Legal Notice).

date: 03 October 2022

p. 62923. Legal aspects of money and paymentlocked

p. 62923. Legal aspects of money and paymentlocked

  • Eric Baskind, Eric BaskindSenior Lecturer in Law, Liverpool John Moores University
  • Greg OsborneGreg OsborneFormerly Senior Lecturer in Law, University of Portsmouth
  •  and Lee RoachLee RoachSenior Lecturer in Law, University of Portsmouth


This chapter discusses the ideas of payment obligation and the meaning of money, which are both central to commercial law since almost all commercial transactions involve an obligation to make a payment in money by one party or another. Its objectives are, first, to introduce the idea of money; second, to consider the legal nature of physical cash; third, to consider what is involved in the obligation of meeting a payment; and finally, to set out the basic nature of a bank account to enable consideration of the electronic payment mechanisms through funds transfers.

You do not currently have access to this chapter

Sign in

Please sign in to access the full content.


Access to the full content requires a subscription