What is CURRENT MONEY?

The currency of the country : whatever is intended to and does actually circulate as currency; every species of coin or currency. Miller v. McKinney. 5 Lea (Tenn.) 90. In this phrase the adjective “current” is not synonymous with “convertible.” It is employed to describe money which passes from hand to hand, from person to person, and circulates through the community, and is generally received. Money is current which is received as money in the common business transactions, and is the common medium in barter and trade. Stalworth v. Blum, 41 Ala. 321.

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