금전의 법적 측면에 관한 연구 - ‘지급결제수단’의 다양화에 대한 법적 대응을 중심으로 -
Legal Concept of Money
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Abstract
Diversification of payment instruments are fundamentally changing the structure of the law of currency, the lex monetae. Traditionally there exists a general consensus on the role of the lex monatae as a law determining the basis of national monetary system . However, the legal tender is losing its place as the primary payment instrument very rapidly. The lex monetae, as a law of legal tender in essence, decides the composition, denomination and nominal value of money. Nowadays, market participants are more interested in fund transfer and electronic money as payment service. This 'money diversification' is not deemed a temporal, but permanent trend. Consequently, decline of the lex monetae. This paper examines the nature of money as payment instrument from a legal perspective. It proposes a wide conceptual approach to the law of money. Firstly, money should be defined as a payment settlement instrument with settlement finality and public acceptability instead of traditional legal tender. Secondly, the role of public law in a monetary system may be partly replaced with contractual schemes among the parties. Thirdly, it may involve merits and demerits to make electronic money or other instruments legal tender in a national monetary system.
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