money

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 S.W.2d 74, 79, 81.

A medium of exchange authorized or adopted by a domestic or foreign government as a part of its currency. U.C.C. No. 1-201(24).

See also currency

- current money

- flat money

- legal tender

- near money

- scrip

- wampum.

@ public money

Revenue received from federal, state, and local governments from taxes, fees, fines, etc.

See revenue

@ money-bill

An act by which revenue is directed to be raised, for any purpose or in any shape whatsoever, either for governmental purposes, and collected from the whole people generally, or for the benefit of a particular district, and collected in that district, or for making appropriations. All federal revenue bills must arise in the House of Representatives, but the Senate may propose or concur with amendments as on other bills. Art. I, Sec. 7, U.S.Const

@ money changers

A money changer is one whose occupation is the exchanging of kinds or denominations of currency, and the common meaning of the term pertained to those persons who, in early history, engaged in the business of foreign exchange and it includes the business of a banker and buying and selling of uncurrent funds and the exchanging of one kind of money for another. Arnold v. City of Chicago, 387 111. 532, 56 N.E.2d 795, 799.

Such functions are today handled by the international departments of banks

@ money claims

In English practice, under the Judicature Act of 1875, claims for the price of goods sold, for money lent, for arrears of rent, etc., and other claims where money is directly payable on a contract express or implied, as opposed to the cases where money is claimed by way of damages for some independent wrong, whether by breach of contract or otherwise. These "money claims" correspond very nearly to the "money counts" or "common counts" formerly in use

@ money demand

A claim for a fixed and liquidated amount of money, or for a sum which can be ascertained by mere calculation; in this sense, distinguished from a claim which must be passed upon and liquidated by a jury, called "damages."

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- moneyed corporation

@ money had and received

In common law pleading, the technical designation of a form of declaration in assumpsit, wherein the plaintiff declares that the defendant had and received certain money, etc. Gist of action for "money had and received" is that defendant has received money which, in equity and good conscience, should have been paid to plaintiff and under such circumstances that he ought to pay it over

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- money judgment

@ money land

A phrase descriptive of money which is held upon a trust to convert it into land

@ money laundering

See laundering

@ money lent

In common law pleading, the technical name of a declaration in an action of assumpsit for which the defendant promised to pay the plaintiff for money lent

@ money made

The return made by a sheriff to a writ of execution, signifying that he has collected the sum of money required by the writ

@ money market

The financial market for dealing in short term debt instruments such as U.S. Treasury bills, commercial paper, and bankers' acceptances, in contrast to the capital market which furnishes long term financing

@ money of adieu

In French law, earnest money; so called because given at parting in completion of the bargain. Arrhes is the usual French word for earnest money; "money of adieu" is a provincialism found in the province of Orleans

@ money order

A type of negotiable draft issued by banks, post offices, telegraph companies and express companies and used by the purchaser as a substitute for a check. Form of credit instrument calling for payment of money to named payee, and involving three parties: remitter, payee, and drawee. Fidelity Bank & Trust Co. v. Fitzimons, Minn., 261 N.W.2d 586, 589.

Money order may encompass nonnegotiable as well as negotiable instruments and may be issued by a governmental agency, a bank, or private person or entity authorized to issue it, but essential characteristic is that it is purchased for purpose of paying a debt or to transmit funds upon credit of the issuer of the money order. People v. Norwood, 26 C.A.3d 148, 103 Cal.Rptr. 7, 12

@ money-order office

One of the post-offices authorized to draw or pay money orders

@ money paid

In common law pleading, the technical name of a declaration in assumpsit, in which the plaintiff declares for money paid for the use of the defendant.

See also money had and received

@ money-purchase plan

A pension plan where the employer contributes a specified amount of cash each year to each employee's pension fund. Benefits ultimately received by the employee are not specifically defined but depend on the rate of return on the cash invested

@ money supply

The amount of money in the economy at any point in time. Such consists of funds in circulation as well as in checking accounts. Money has been categorized into 4 groups based upon liquidity, as follows:

M-1 is generally funds in circulation, checking accounts, drafts.

M-2 includes M-1 as well as mutual funds, overnight repurchase agreements, and savings accounts.

M-3 includes M-2 as well as longer term repurchase agreements and time deposits in excess of $100,000.

L includes M-3 as well as banker's acceptances, T-bills and similar longer term investments

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