The Legal Concept of Money delves into the complexities of defining money in today’s increasingly digital world. Author Simon Gleeson re-examines this fundamental concept from both legal and economic perspectives, exploring the role that various forms of currency—coins, notes, credit, and virtual currencies—play in transactions. The book is essential reading for anyone involved in global legal, commercial, economic, macro-prudential, or fiscal policymaking.

Starting with a comprehensive summary of money’s legal nature, Gleeson clarifies the distinction between money and payment obligations. He also provides an overview of money’s core characteristics, including its function in different types of transactions such as sale of goods involving ‘e-currency.’ The author meticulously examines how law identifies money by analyzing specific transactional details.

Other critical topics addressed include the recovery of stolen funds, claims for non-delivery of money, and the nature of obligations to pay. The book also delves into money’s role in banking systems, questioning whether traditional monetary systems can accommodate non-traditional currency forms without jeopardizing systemic stability.

In addition, Gleeson explores the potential for alternative currencies as viable substitutes for traditional money in financial transactions. This makes the book a valuable resource for understanding and navigating the evolving landscape of monetary systems.

With its detailed analysis spanning 252 pages, this book offers a profound insight into the legal challenges posed by emerging payment mechanisms, making it an indispensable guide for scholars, policymakers, and practitioners alike.

The Legal Concept of Money (Oxford University Press, February 20, 2019, ISBN-13: 978-0198826392) challenges the status quo in our understanding of money’s multifaceted role in society.

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