MONEY

money. 1. The medium of exchange authorized or adopted by a government as part of its currency; esp. domestic currency <coins and currency are money>. UCC § 1-201(b)(24). 2. Assets that can be easily converted to cash <demand deposits are money>.3. Capital that is invested or traded as a commodity < the money market>.4. (pl.) Funds; sums of money <investment moneys>.

— Also spelled (in sense 4) monies. See MEDIUM OF EXCHANGE; LEGAL TENDER.

current money.Money that circulates throughout a country; currency.

e-money. Money or a money substitute that is transformed into information stored on a computer or computer chip so that it can be transferred over information systems such as the Internet. — Also termed digital cash; electronic cash; electronic currency; Internet scrip; online scrip Cf. e-check under CHECK.

fiat money.Paper currency not backed by gold or silver. — Also termed flat money.

hard money. 1. Coined money, in contrast to paper currency. 2. Cash. lawful money.Money that is legal tender for the payment of debts.

paper money.Paper documents that circulate as currency; bills drawn by a government

against its own credit.

real money. 1. Money that has metallic or other intrinsic value, as distinguished from paper

currency, checks, and drafts. 2. Current cash, as opposed to money on account.

[Blacks Law 8th]