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This work provides a lucid and penetrating analysis of the legal principles underlying payment obligations in financial transactions. It helps practitioners understand the often obscure concepts on which disputes arising from modern payment systems frequently turn and to use them on their clients’ behalf.
It analyses the concepts of money, payment and obligation to pay; the right to payment; stipulations as to time; interest; the legal implications of inter-bank transfers, and foreign money obligations. Recent case law is analysed in the light of these fundamental principles.