Modern money had and received

Cutts, Tatiana (2018) Modern money had and received. Oxford Journal of Legal Studies, 38 (1). 1 - 25. ISSN 0143-6503

Preview

Text - Accepted Version Download (455kB) | Preview

Abstract

The many manifestations of money had and received have come to be treated as a single claim, to reverse a defective transfer of value. I show here that this tendency towards unification has led us to exaggerate the role of value, thus obscuring the normative role played by the notion of a ‘transfer’ from claimant to defendant. I argue that ‘transfer’ labels the legal mechanism through which the parties’ balance sheet positions are affected. For cases that involve physical cash, the legal mechanism properly associated with a claim in unjust enrichment is a title transfer. For cases that involve bank money, the legal mechanism is a bank transfer, effected by participating banks as agents for payor and payee. I argue that we should welcome the move in Investment Trust Companies v Revenue and Customs Commissioners towards a transactional test, but that we must draw and defend narrow parameters for it.

Item Type:	Article
Official URL:	https://academic.oup.com/ojls
Additional Information:	© 2018 Oxford University Press
Divisions:	Law
Subjects:	K Law > K Law (General)
Date Deposited:	23 Mar 2018 15:40
Last Modified:	11 Dec 2024 21:35
URI:	http://eprints.lse.ac.uk/id/eprint/87346

Actions (login required)

View Item