current funds

current funds
Money circulating without discount; whatever is receivable and current by law as money, whether in the form of notes or coins. 36 Am J1st Money § 8. See currency.

Ballentine's law dictionary. . 1998.

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  • current funds — Cash and other assets readily convertible into cash. Money which circulates as legal tender. Formerly, this phrase meant gold or silver, or something equivalent thereto, and convertible at pleasure into coin money. Bull v. First National Bank,… …   Black's law dictionary

  • in current funds — In funds equal in value to the current coin of the country, such as is received and paid on debts, in the purchase of property, and in ordinary business transactions, at par, and without discount. 40 Am J1st Paym § 58 …   Ballentine's law dictionary

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