Analysis of the Determination and Conversion of Money of Account, Money of Payment, and Money of Forum; A Comparative Study of Iranian Law and Common Law

Articles in Press

Document Type : Research Paper

Authors

1 Prof. of Faculty of Law & Political Science at UT, Tehran, Iran

2 PhD Student in Private Law at UT, Tehran, Iran

10.22059/jcl.2025.387244.634705

Abstract

This article examines the distinction between money of payment, money of account, and money of forum as well as how to determine them, the laws governing each, and the date and rate at which they can be converted into each other, in contractual and non-contractual aspects of disputes. Therefore, the authors are faced with the question of how to distinguish between money of account, money of payment, and money of forum, and when and how they are converted into one another? Through an analytical-descriptive and comparative approach, and the use of library resources, the authors have concluded that, in order to distinguish money of account from money of payment, the lex causae must first be identified, and then it is necessary to interpret these two moneys and to consider the maturity of the contract as a criterion for converting money of account into money of payment. Nevertheless, this distinction and consequently this conversion will not apply to non-contractual issues. Once the money of payment has been determined, if the court issuing the judgment permits, the payment will be made in the money of payment. Otherwise, the payment will inevitably have to be converted into the currency of the forum, thus raising the question of how and when this conversion will occur.

Keywords

Main Subjects

Comparative Law Review

Articles in Press, Accepted Manuscript
Available Online from 01 September 2025

Files

Share

How to cite

Statistics