Back Matter

Back Matter

Author(s):
Joseph Gold
Published Date:
March 1990
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    Indexes
    Index A. Table of Cases Cited (Alphabetically arranged)

    A

    H.A.W.M. Ackerstaff v. M.A. van Berge Henegouwen Nederlandse Jurisprudentie, 1973, No. 377

    Airtemp Corp. v. Chrysler Airtemp Canada Ltd.

    • [1981] 121 D.L.R. (3d) 236; 31 O.R. (2d) 481

    Aldora, The

    • [1975] Q.B. 748 418

    Am-Pac Forest Products Inc. v. Phoenix Doors Ltd. et al

    • [1979] 14 B.C.L.R. 63 296

    Australian and New Zealand Banking Group Limited v. Cawood

    • [1987] 1 Qd.R. 131 291

    B

    Banque de Bary v. Marti et Giauque Recueil Dalloz Sirey, 1982, 648 210

    Barclays Bank International Ltd. v. Levin Brothers (Bradford) Ltd.

    • [1976] 3 All E.R. 900; [1976] 3 W.L.R. 852 259, 261

    Batavia Times Publishing Co. v. Davis

    • [1978] 88 D.L.R. (3d) 144

    K.G. Berlin

    • WM 1988, 1385

    Bernina Distributors, Inc. v. Bernina Sewing Machine Co.

    • 646 F. 2d 434 (10th Cir. 1981)

    Bethlehem Steel Company v. Zurich General Accident & Liability Insurance Company Ltd.

    • 307 U.S. 265 (1939)

    Blanc v. Raynaud

    • La Semaine Juridique, January 3, 1990, II—Jurisprudence, Case 21393; Recueil Dalloz Sirey, March 22, 1990, No. 12, Jurisprudence, 167

    B.P. Exploration Co. (Libya) Ltd. v. Hunt (No. 2)

    • [1979] 1 W.L.R. 783; [1981] 1 W.L.R. 232; [1982] 1

    • All E.R. 925; [1982] 2 W.L.R. 253

    Bradford v. Plains Cotton Cooperative Ass’n

    • 539 F.2d 1249 (10th Cir. 1976)

    The Brimnes Tenax Steamship Co. Ltd. v. The Brimnes (Owners)

    • [1975] 1 Q.B. 929

    C

    Re Canadian Vinyl Industries, Inc.

    • [1978] 29 C.B.R. 12 (Quebec)

    Charters of M.S. John Wilson and M.S. Chilean Nitrate, etc., in the Matter of Arbitration of Disputes Relating to

    • 1973 A.M.C. 1489

    Chief Collector of Taxes Papua-New Guinea v. T.A. Field Pty. Limited

    • [1975] 49 A.L.J.R. 351

    Choice Investments Ltd. v. Jeromnimon (Midland Bank Ltd. garnishee)

    • [1981] 1 All E.R. 225; [1981] 1 Q.B. 149

    Commerzbank Aktiengesellschaft v. Large

    • Scots Law Times Reports, November 25, 1977, 219

    Competex S.A. (in Liquidation) v. LaBow

    • 783 F.2d 333 (2nd Cir. 1986)

    Coöperatieve vereniging ‘Suiker Unie’ UA and Others v. Commission of the European Communities

    • [1975] E.C.R. 1663

    D

    de Brancovan v. Mme Galitzine

    • Recueil Dalloz Sirey, 1989, No. 8, Jurisprudence, 80

    Despina R, The

    • [1977] 3 All E.R. 874; [1977] 3 W.L.R. 597; [1978] 1 Q.B. 396; [1978] 3 W.L.R. 804; [1979] A.C. 685;

    • [1979] 1 Lloyd’s Rep. 1

    Re Dynamics Corporation of America and Another

    • [1972] 3 All E.R. 1046; [1976] 2 All E.R. 669

    E

    Elder’s Trustee and Executor Company Limited v. Beneficial Finance Corporation Limited

    • [1979] 21 S.A.S.R. 216

    Elgin Brown and Hamer (Pty) Ltd. v. Dampskibsselskabet Torm Ltd.

    • 1988(4) SA 671(N)

    Erie Railroad Co. v. Tompkins

    • 304 U.S. 64; 58 S.Ct. 817; 82 L Ed 1188 (1938)

    Re Export Interest Rebates: Greece v. E.C. Commission

    • [1990] 1 C.M.L.R. 65

    F

    Federal Commerce and Navigation Co. Ltd. v. Tradax Export SA

    • [1977] 2 All E.R. 41

    Folias, The

    • [1978] 3 W.L.R. 804; [1979] A.C. 685; [1979] 1

    • Lloyd’s Rep. 1

    G

    George Veflings Rederi A/S. v. President of India, etc.

    • [1979] 1 All E.R. 380

    Giuseppe Foti and Ors. v. Banque Nationale de Paris

    • (Unreported, No. 60 of 1987, March 17, 1989);

      Journal of Business Law (London), November 1989,

      499; Australian Law Journal (North Ryde, New South Wales), Vol. 63, No. 6 (June 1989), 385

    Glafki Shipping Co. S.A. v. Pinios Shipping Co. No. 1 (The “Maira”) (No. 2)

    • [1985] 1 Lloyd’s Rep. 300

    In re Good Hope Chemical Corporation

    • 747 F.2d 806 (1984)

    Guaranty Trust Company of New York v. Berryman Henwood

    • 307 U.S. 247 (1939)

    Gulf Oil Corp. v. F.P.C.

    • 563 F.2d 588 (3d Cir. 1977) 235

    H

    Helmsing Schiffahrts G.m.b.H. & Co. v. Malta Drydocks Corporation and Others

    • [1977] 2 Lloyd’s Rep. 444

    Frederick C. Hicks v. Benjamin Guinness

    • 269 U.S. 71; 46 Sup. Ct. Rep. 46

    Hoffman v. Sofaer

    • [1982] 1 W.L.R. 1350

    I

    Ibbetson–Petitioner

    • 1957 S.L.T. (Notes) 15

    Isaac Naylor & Sons Ltd. v. New Zealand Co-operative Wool Marketing Association Ltd.

    • [1981] 1 NZLR 361

    J

    Jean Kraut AG v. Albany Fabrics Ltd.

    • [1977] 2 All E.R. 116

    Jugoslavenska Oceanska Plovidba v. Castle Investment Co. Inc.

    • [1973] 3 All E.R. 498; [1973] 3 W.L.R. 847; [1974]

    • Q.B. 292

    J.Y.A. Lamaignere v. Selene Shipping Agencies Limited

    • [1982] 1 C.L.R. 227

    K

    LG Köln

    • WM 1988, 802; WuB/9.88, 1229

    L

    Libyan Arab Foreign Bank v. Bankers Trust Company

    • [1988] 1 Lloyd’s Rep. 259

    Libyan Arab Foreign Bank v. Manufacturers Hanover Trust Co.

    • [1988] 2 Lloyd’s Rep. 494

    Re Lines Bros. Ltd.

    • [1982] 2 All E.R. 183

    Lively Ltd. and Another v. City of Munich

    • [1976] 3 All E.R. 851

    M

    Madeleine Vionnet & Cie v. Wills

    • [1940] 1 K.B. 72 (C.A.)

    Makwindi Oil Procurement (Pvt) Ltd. v. National Oil Co. of Zimbabwe (Pvt) Ltd.

    • 1988(2) SA 690 (ZHC); 1989(3) SA 191 (ZSC)

    Malilang and Others v. MV Houda Pearl

    • 1986(3) SA 960(A)

    Mardorf Peach & Co. Ltd. v. Attica Sea Carriers Corporation of Liberia

    • [1977] A.C. 850

    Mediterránea SA.v. Banco Exterior SA Journal of International Banking Law (Oxford), Vol. 5, No. 3 (1990), N-61; La Ley (Buenos Aires), 1989-D:240

    Mediterranean Shipping Co. Ltd. v. Speedwell Shipping Co. Ltd. and Another

    • 1989(1) SA 164(D)

    Midland International Trade Services Ltd. and Others v. Sudairy & Others

    • Financial Times (London), May 2, 1990, 14

    Miliangos v. George Frank (Textiles) Ltd.

    • [1975] 1 All E.R. 1076; [1975] 3 All E.R. 801;

    • [1975] 3 W.L.R. 758; [1976] A.C. 443

    Miliangos v. George Frank (Textiles) Ltd. (No. 2)

    • [1976] 3 W.L.R. 477; [1976] 3 All E.R. 599; [1977]

    • 1 Q.B. 489

    Ministere Public v. R. Lambert

    • [1989] 3 C.M.L.R. 649

    Minories Finance Ltd. v. Daryanani

    • The Times (London), April 14, 1989, 36

    Multiservice Bookbinding Ltd. and Others v. Marden

    • [1978] 2 W.L.R. 535; [1978] 2 All E.R. 489; [1979]

    • 1 Ch. 84

    Murata Machinery Ltd. v. Capelon Yarns (Pty) Ltd.

    • 1986(4) SA 671(C)

    N

    Naamloze Vennootschap Suiker-Fabriek “Wono-Aseh” v. Chase National Bank of City of New York et al.

    • 111 F. Supp. 833 (U.S. Dist. Ct., S.D.N.Y., 1953)

    Nachi Fujikoshi Corporation v. E.C. Council

    • [1989] 2 C.M.L.R. 76

    Narbaitz, Guillermo y otra v. Citibank N.A., Citibank N.A. v. Narbaitz Hnos y Cia, S.C.A.

    • La Ley (Buenos Aires), 1988, 380

    National Bank of Greece SA v. Pinios Shipping Co. No. 1 and Another, The Maira

    • [1989] 1 All E.R. 213; [1989] 3 W.L.R. 185; The Times (London), December 1, 1989, 42

    National Bank of Pakistan v. BNP-España Recueil Dalloz Sirey, 1989, No. 35, Sommaires Commentés, 329

    National Food Distributors v. Paul Weltman

    • H0-H-408-85 327

    National Westminster Bank Ltd. v. Burston

    • [1980] 28 O.R. (2d) 701; 16 C.P.C. 27

    Norman v. Baltimore & O.R. Co.

    • 294 U.S. 240 (1935)

    F. Eugene Nortz v. The United States

    • 294 U.S. 317 (1935)

    N.V. Bocimar S.A. v. Century Ins. Co. of Canada

    • [1984] 7 C.C.L.I. 165; 53 N.R. 383

    O

    Re Oil Spill by the Amoco Cadiz off the coast of France on March 16, 1978

    • MDL No. 376 (U.S. District Court for the Northern District of Illinois, Eastern Division, 1988 U.S. Dist. LEXIS 214)

    Oshawa Group Ltd. v. Great American Ins. Co.

    • [1982] 132 D.L.R. (3d) 453; 36 O.R. (2d) 424;

    • [1982] I.L.R. ¶1-1492

    Ozalid Group (Export) Ltd. v. African Continental Bank Ltd.

    • [1979] 2 Lloyd’s Rep. 231

    P

    Pattison v. Marine Midland Ltd.

    • [1984] 1 A.C. 362

    P. Dumortier Frères SA and others v. Council of the European Communities

    • [1979] E.C.R. 3091; [1982] E.C.R. 1733

    John M. Perry v. The United States

    • 294 U.S. 330 (1935)

    Prasad v. Frandsen

    • [1985] 60 B.C.L.R. 343

    President of India v. Lips Maritime Corp.

    • [1987] 3 All E.R. 110; [1987] 3 W.L.R. 572

    R

    Les Rapides Savoyards Sàrl and Others v. Directeur General des Douanes et Droits Indirects

    • [1985] 3 C.M.L.R. 116

    Rosa S, The

    • [1988] 2 Lloyd’s Rep. 574; [1989] 2 W.L.R. 162;

    • [1989] 1 All E.R. 489

    Royal Bank of Canada v. Paletta

    • [1983] 44 O.R. (2d) 29; 40 C.P.C. 55

    S

    Salzburger Sparkasse v. Total Plastics Service Inc.

    • [1988] 50 D.L.R. (4th) 639

    S.A. Philipp Brothers, Belgium v. Ferromak Import-Export Transit und Handelsvertretungen, Austrian GmbH

    • Journal des Tribunaux, 1988, 655

    In re Scandinavian Bank Group Plc.

    • [1987] 2 All E.R. 70; [1981] 1 Ch. 87

    Schorsch Meier GmbH v. Hennin

    • [1975] 1 All E.R. 152

    Services Europe Atlantic Sud (SEAS) v. Stockholms Rederiaktiebolag SVEA (The Folias) and (The Despina R)

    • [1978] 3 W.L.R. 804; [1979] 1 Lloyd’s Rep. 1;

    • [1979] A.C. 685

    Shell Tankers (U.K.) Ltd. v. Astro Comino Armadora S.A. (The “Pacific Colocotronis”)

    • [1981] 2 Lloyd’s Rep. 40

    Société anonyme générale Sucrière and Others v. Commission of the European Communities and Others

    • [1977] E.C.R. 445

    Société des Hotels Le Touquet Paris-Plage v. Cummings

    • [1923] 1 K.B. 451 (Ct. App. 1921)

    Société Française Bunge SA v. Belcan NV (The Federal Huron)

    • [1985] 3 All E.R. 378; [1985] 2 Lloyd’s Rep. 189

    S.P.A. Alitalia v. s.r.l. Salviati e Santori Il Diritto Marittimo, 1985, 328; Rivista de Diritto Internazionale Privato e Processuale, 1985, 859

    S.S. Pharmaceutical Co. Ltd. v. Qantas Airways Ltd.

    • [1989] 1 Lloyd’s Rep. 319

    Supreme Court of Spain

    Revista Española de Derecho International, Vol. 38, No. 1 (1986), 359

    T

    T.A. Field Pty. Ltd. v. Chief Collector of Taxes of Papua-New Guinea

    • [1975] 2 N.S.W.L.R. 101

    Teca-Print A.G. v. Amacoil Machinery, Inc.

    • 525 N.Y.S. 2d 535 (Sup. 1988)

    Tehno-Impex v. Gebr. Van Weelde Scheepvaartkantoor B.V.

    • [1981] 1 Q.B. 648

    Textilwerke Gebruder Hoon v. Corber

    • [1978] 29 C.B.R. 12

    Trans World Airlines, Inc. v. Franklin Mint Corporation et al.

    • 466 U.S. 243 (1984); 80 L Ed 2d 273

    Treseder-Griffin and Another v. Co-operative Insurance Society Ltd.

    • [1956] 2 Q.B. 127

    U

    In re United Railways of the Havana and Regla Warehouses, Ltd.

    • [1960] 2 All E.R. 332; [1961] A.C. 1007

    United States of America v. Indus G.m.b.H.

    • 10 U 94/75 (Karlsruhe Oberlandesgericht, February 13, 1976)

    V

    Voest Alpine Intertrading Gesellschaft MBH v. Burwill and Co. SA (Pty) Ltd.

    • 1985(2) SA 149(W)

    W

    W. Bruns & Company of Hamburg v. Standard Fruit and Steamship Company of New Orleans (The “Brunsrode”)

    • [1976] 1 Lloyd’s Rep. 501

    White and Carter (Councils) Ltd. v. McGregor

    • [1962] A.C. 413

    Index B. Table of Cases Cited

    (Arranged by country or forum)

    Argentina

    Mediterránea SA v. Banco Exterior SA Journal of International Banking Law (Oxford), Vol. 5, No. 3 (1990), N-61; La Ley (Buenos Aires), 1989-D:240

    Narbaitz, Guillermo y otra v. Citibank N.A., Citibank N.A. v. Narbaitz Hnos y Cia, S.C.A.,

    • La Ley (Buenos Aires), 1988, 380

    Australia

    Australian and New Zealand Banking Group Limited v. Cawood

    • [1987] 1 Qd.R. 131

    Chief Collector of Taxes Papua-New Guinea v. T.A. Field Pty. Limited

    • [1975] 49 A.L.J.R. 351

    Elder’s Trustee and Executor Company Limited v. Beneficial Finance Corporation Limited

    • [1979] 21 S.A.S.R. 216

    Giuseppe Foti and Ors. v. Banque Nationale de Paris (Unreported, No. 60 of 1987, March 17, 1989); Journal of Business Law (London), November 1989, 499; Australian Law Journal (North Ryde, New South Wales), Vol. 63, No. 6 (June 1989), 385

    S.S. Pharmaceutical Co. Ltd. v. Qantas Airways Ltd.

    • [1989] 1 Lloyd’s Rep. 319

    T.A. Field Pty. Ltd. v. Chief Collector of Taxes of Papua-New Guinea

    • [1975] 2 N.S.W.L.R. 101

    Belgium

    S.A. Philipp Brothers, Belgium v. Ferromak Import-Export Transit und Handelsvertretungen, Austrian GmbH

    • Journal des Tribunaux, 1988, 655

    Canada

    Airtemp Corp. v. Chrysler Airtemp Canada Ltd.

    • [1981] 121 D.L.R. (3d) 236; 31 O.R. (2d) 481

    Am-Pac Forest Products Inc. v. Phoenix Doors Ltd. et al.

    • [1979] 14 B.C.L.R. 63

    Batavia Times Publishing Co. v. Davis

    • [1978] 88 D.L.R. (3d) 144

    Re Canadian Vinyl Industries, Inc.

    • [1978] 29 C.B.R. 12

    National Westminster Bank Ltd. v. Burston

    • [1980] 28 O.R. (2d) 701; 16 C.P.C. 27

    N.V. Bocimar S.A. v. Century Ins. Co. of Canada

    • [1984] 7 C.C.L.I. 165; 53 N.R. 383

    Oshawa Group Ltd. v. Great American Ins. Co.

    • [1982] 132 D.L.R. (3d) 453; 36 O.R. (2d) 424;

    • [1982] I.L.R. ¶1-1492

    Prasad v. Frandsen

    • [1985] 60 B.C.L.R. 343

    Royal Bank of Canada v. Paletta

    • [1983] 44 O.R. (2d) 29; 40 C.P.C. 55

    Salzburger Sparkasse v. Total Plastics Service Inc.

    • [1988] 50 D.L.R. (4th) 639

    Textilwerke Gebrüder Hoon v. Corber

    • [1978] 29 C.B.R. 12

    Cyprus

    J.Y.A. Lamaignere v. Selene Shipping Agencies Limited

    • [1982] 1 C.L.R. 227

    England

    Aldora, The

    • [1975] Q.B. 748

    Barclays Bank International Ltd. v. Levin Brothers (Bradford) Ltd.

    • [1976] 3 All E.R. 900; [1976] 3 W.L.R. 852

    B.P. Exploration Co. (Libya) Ltd. v. Hunt (No. 2)

    • [1979] 1 W.L.R. 783; [1981] 1 W.L.R. 232; [1982] 1

    • All E.R. 925; [1982] 2 W.L.R. 253

    Choice Investments Ltd. v. Jeromnimon (Midland Bank Ltd. garnishee)

    • [1981] 1 All E.R. 225; [1981] 1 Q.B. 149

    Despina R, The

    • [1977] 3 All E.R. 874; [1977] 3 W.L.R. 597; [1978] 1 Q.B. 396; [1978] 3 W.L.R. 804; [1979] A.C. 685; [1979] 1 Lloyd’s Rep. 1

    Re Dynamics Corporation of America and Another

    • [1972] 3 All E.R. 1046; [1976] 2 All E.R. 669

    Federal Commerce and Navigation Co. Ltd. v. Tradax Export SA

    • [1977] 2 All E.R. 41

    Folias, The

    • [1978] 3 W.L.R. 804; [1979] A.C. 685; [1979] 1

    • Lloyd’s Rep. 1

    George Veflings Rederi A/S v. President of India, etc.

    • [1979] 1 All E.R. 380

    Glafki Shipping Co. S.A. v. Pinios Shipping Co. No. 1 (The “Maira”) (No. 2)

    • [1985] 1 Lloyd’s Rep. 300

    Helmsing Schiffahrts G.m.b.H. & Co. v. Malta Drydocks Corporation

    • [1977] 2 Lloyd’s Rep. 444

    Hoffman v. Sofaer

    • [1982] 1 W.L.R. 1350

    Jean Kraut AG v. Albany Fabrics Ltd.

    • [1977] 2 All E.R. 116

    Jugoslavenska Oceanska Plovidba v. Castle Investment Co. Inc.

    • [1973] 3 All E.R. 498; [1973] 3 W.L.R. 847; [1974] Q.B. 292

    Libyan Arab Foreign Bank v. Bankers Trust Company

    • [1988] 1 Lloyd’s Rep. 259

    Libyan Arab Foreign Bank v. Manufacturers Hanover Trust Co.

    • [1988] 2 Lloyd’s Rep. 494

    Re Lines Bros. Ltd.

    • [1982] 2 All E.R. 183

    Lively Ltd. and Another v. City of Munich

    • [1976] 3 All E.R. 851

    Madeleine Vionnet & Cie v. Wills

    • [1949] 1 K.B. 72 (C.A.)

    Mardorf Peach & Co. Ltd. v. Attica Sea Carriers Corporation of Liberia

    • [1977] A.C. 850

    Midland International Trade Services Ltd. & Others v. Sudairy & Others

    Financial Times (London), May 2, 1990, 14

    Miliangos v. George Frank (Textiles) Ltd.

    • [1975] 1 All E.R. 1076; [1975] 3 All E.R. 801;

    • [1975] 3 W.L.R. 758; [1976] A.C. 443

    Miliangos v. George Prank (Textiles) Ltd. (No. 2)

    • [1976] 3 W.L.R. 477; [1976] 3 All E.R. 599; [1977] 1 Q.B. 489

    Minories Finance Ltd. v. Daryanani

    • The Times (London), April 14, 1989, 36

    Multiservice Bookbinding Ltd. and Others v. Marden

    • [1978] 2 W.L.R. 535; [1978] 2 All E.R. 489; [1979] 1 Ch. 84

    National Bank of Greece SA v. Pinios Shipping Co. No. 1 and Another, The Maira

    • [1989] 1 All E.R. 213; [1989] 3 W.L.R. 185; The Times (London), December 1, 1989, 42

    Ozalid Group (Export) Ltd. v. African Continental Bank Ltd.

    • [1979] 2 Lloyd’s Rep. 231

    Pattison v. Marine Midland Ltd.

    • [1984] 1 A.C. 362

    President of India v. Lips Maritime Corp.

    • [1987] 3 All E.R. 110; [1987] 3 W.L.R. 572

    Rosa S, The

    • [1988] 2 Lloyd’s Rep. 574; [1989] 2 W.L.R. 162;

    • [1989] 1 All E.R. 489

    In re Scandinavian Bank Group Plc.

    • [1987] 2 All E.R. 70; [1988] 1 Ch. 87

    Schorsch Meier GmbH v. Hennin

    • [1975] 1 All E.R. 152

    Services Europe Atlantic Sud (SEAS) v. Stockholms Rederiaktiebolag SVEA (The Folias) and (The Despina R)

    • [1978] 3 W.L.R. 804; [1979] 1 Lloyd’s Rep. 1;

    • [1979] A.C. 685

    Shell Tankers (U.K.) Ltd. v. Astro Comino Armadora S.A. (The “Pacific Colocotronis”)

    • [1981] 2 Lloyd’s Rep. 40

    Société Française Bunge SA v. Belcan NV (The Federal Huron)

    • [1985] 3 All E.R. 378; [1985] 2 Lloyd’s Rep. 189

    Société des Hotels Le Touquet Paris-Plage v. Cummings

    • [1923] 1 K.B. 451 (Ct. App. 1921)

    Tehno-Impex v. Gebr. Van Weelde Scheepvaartkantoor B.V.

    • [1981] 1 Q.B. 648

    The Brimnes Tenax Steamship Co. Ltd. v. The Brimnes (Owners)

    • [1975] 1 Q.B. 929

    Treseder-Griffin and Another v. Co-operative Insurance Society Ltd.

    • [1956] 2 Q.B. 127

    In re United Railways of the Havana and Regla Warehouses Ltd.

    • [1960] 2 All E.R. 332; [1961] A.C. 1007

    W. Bruns & Company of Hamburg v. Standard Fruit and Steamship Company of New Orleans (The “Brunsrode”)

    • [1976] 1 Lloyd’s Rep. 501

    White and Carter (Councils) Ltd. v. McGregor

    • [1962] A.C. 413

    France

    Banque de Bary v. Marti et Giauque

    • Recueil Dalloz Sirey, 1982, 648

    Blanc v. Raynaud

    • La Semaine Juridique January 3, 1990, II—Jurisprudence, Case 21393; Recueil Dalloz Sirey, March 22, 1990, No. 12, Jurisprudence, 167

    de Brancovan v. Mme Galitzine Recueil Dalloz Sirey, 1989, No. 8, Jurisprudence, 80

    National Bank of Pakistan v. BNP-España Recueil Dalloz Sirey, 1989, No. 35, Sommaires Commentés, 329

    Germany

    K.G. Berlin WM 1988, 1385

    LG Köln

    • WM 1988, 802; WuB/9.88, 1229 214

    United States of America v. Indus G.m.b.H.

    • 10 U 94/75 (Karlsruhe Oberlandesgericht, February 13, 1976)

    Italy

    S.P.A. Alitalia v. s.r.l. Salviati e Santori, Il Diritto Marittimo, 1985, 328; Rivista di Diritto Internazionale Privato e Processuale, 1985, 859

    Netherlands

    H.A.W.M. Ackerstaff v. M.A. van Berge Henegouwen Nederlandse Jurisprudent, 1973, No. 377

    New zealand

    Isaac Naylor & Sons Ltd. v. New Zealand Co-operative Wool Marketing Association Ltd.

    • [1981] 1 NZLR 361

    Scotland

    Commerzbank Aktiengesellschaft v. Large Scots Law Times Reports, November 25, 1977, 219

    Ibbetson–Petitioner

    • 1957 S.L.T. (Notes) 15

    Spain

    Supreme Court of Spain

    • Revista Española de Derecho International, Vol. 38, No. 1 (1986), 359

    South africa

    Elgin Brown and Hamer (Pty) Ltd. v. Dampskibsselskabet Torm Ltd.

    • 1988(4) SA 671 (N)

    Malilang and Others v. NV Honda Pearl

    • 1986(3) SA 960(A)

    Mediterranean Shipping Co. Ltd. v. Speedwell Shipping Co. Ltd. and Another

    • 1989(1) SA 164(D)

    Murata Machinery Ltd. v. Capelon Yarns (Pty) Ltd.

    • 1986(4) SA 671(C)

    Voest Alpine Intertrading Gesellschaft MBH v. Burwill and Co. SA (Pty) Ltd.

    • 1985(2) SA 149(W)

    United states

    Bernina Distributors, Inc. v. Bernina Sewing Machine Co.

    • 646 F.2d 434 (10th Cir. 1981)

    Bethlehem Steel Company v. Zurich General Accident & Liability Insurance Company Ltd.

    • 307 U.S. 265 (1939)

    Bradford v. Plains Cotton Cooperative Ass’n

    • 539 F.2d 1249 (10th Cir. 1976)

    Charters of M.S. John Wilson and M.S. Chilean Nitrate, etc., in the Matter of Arbitration of Disputes Relating to,

    • 1973 A.M.C. 1489 230, 239

    Competex S.A. (in Liquidation) v. LaBow

    • 783 F.2d 333 (2nd Cir. 1986)

    Erie Railroad Co. v. Tompkins

    • 304 U.S. 64; 58 S.Ct. 817; 82 L Ed 1188 (1938)

    In re Good Hope Chemical Corporation

    • 747 F.2d 806 (1984)

    Guaranty Trust Company of New York v. Berryman Henwood

    • 307 U.S. 247 (1939)

    Gulf Oil Corp. v. F.P.C.

    • 563 F.2d 588 (3d Cir. 1977)

    Frederick C. Hicks v. Benjamin Guinness

    • 269 U.S. 71; 46 Sup. Ct. Rep. 46

    Naamloze Vennootschap Suiker-Fabriek “Wono-Aseh” v. Chase National Bank of City of New York

    • 111 F. Supp. 833 (U.S. Dist. Ct., S.D.N.Y., 1953)

    Norman v. Baltimore & O.R. Co.

    • 294 U.S. 240 (1935)

    F. Eugene Nortz v. The United States

    • 294 U.S. 317 (1935)

    Re Oil Spill by the Amoco Cadiz off the coast of France on March 16, 1978

    • MDL No. 376 (U.S. District Court for the Northern District of Illinois, Eastern Division, 1988 U.S. Dist. LEXIS 214)

    John M. Perry v. United States

    • 294 U.S. 330 (1935)

    Teca-Print A.G. v. Amacoil Machinery, Inc.

    • 525 N.Y.S. 2d 535 (Sup. 1988)

    Trans World Airlines, Inc. v. Franklin Mint Corporation et al.

    • 466 U.S. 243 (1984); 80 L Ed 2d 273

    Zimbabwe

    Makwindi Oil Procurement (Pvt) Ltd. v. National Oil Co. of Zimbabwe (Pvt) Ltd.

    • 1988(2) SA 690 (ZHC); 1989(3) SA (ZSC)

    National Food Distributors v. Paul Weltman

    • H0-H-408-85 327

    European Communities, Court of Justice of

    Coöperatieve vereniging ‘Suiker Unie’ UA and Others v. Commission of the European Communities

    • [1975] E.C.R. 1663

    P. Dumortier Frères SA and others v. Council of the European Communities

    • [1979] E.C.R. 3091; [1982] E.C.R. 1733

    Ministere Public v. R. Lambert

    • [1989] 3 C.M.L.R. 649

    Nachi Fujikoshi Corporation v. E.C. Council

    • [1989] 2 C.M.L.R. 76

    Les Rapides Savoyards Sàrl and Others v. Directeur General des Douanes et Droits Indirects

    • [1985] 3 C.M.L.R. 116

    Société anonyme générale Sucrière and Others v. Commission of the European Communities and Others

    • [1977] E.C.R. 445

    Index C. Authors and Others

    (References to the author of this book have not been included in this index)

    A

    Abraham, Filip 94

    Abraham, Jean-Paul 94

    Alberts, Michael 347

    Alexander, Dean C. 253

    Allen, Polly Reynolds 388, 389

    Al-Kabban, Riyadh A.M. 78

    B

    Baer, Gunter D. 383

    Brand, Ronald A. 331, 334, 335

    Brandon, Mr. Justice 129, 417

    Bowles, Roger A. 301

    Brooks, Roy L. 186

    Brown, John Trevor 388

    C

    Chown, John 283

    Cigoj, M. 346

    Connally, John 251, 253

    Conrad, Laura Stevenson 233, 236

    Cowhey, Peter F. 122

    Craig, Sir Thomas 319

    D

    de Larosière, Jacques 90, 408

    Delors, Jacques 55, 384

    Denning, Lord (Justice) 249, 250, 253, 255, 256, 260, 282, 378, 380, 413

    Derham, S. Rory 272

    de Vries, Margaret Garritsen 48

    Donaldson, Sir John 284

    Drobnig, Ulrich 273

    E

    Echezarreta Ferrer, Maria Teresa 224

    Edwards, Richard W., Jr. 139

    F

    Flint, David 291

    Folkerts-Landau, David 55

    Freeman, Jennifer 336, 415

    Fuller, Jim 283, 395

    G

    Gleske, Leonhard 407, 409

    Goff, Robert, Mr. Justice 286, 382

    Goldring, John 237

    Goode, R.M. 388

    Greenspan, Alan 195

    Guttentag, Jack 388

    H

    Haas, Michael 185

    Hahn, Hugo J. 389

    Hariton, David P. 283

    Herring, Richard 388

    Herrmann, Gerold 168

    Hodson, Lord 380

    Horsefield, J. Keith ix

    Humphrey, Thomas M. 388

    Hunter, H.O. 286

    I

    Instone, Ralph 280

    J

    Jack, R.B. 375

    K

    Keleher, Robert E. 388

    Kerr, A.J. 328

    Kerr, Sir Michael 270

    Keynes, John Maynard ix, 250, 251

    Koeune, Jean-Claude 42

    Kumah, Emmanuel O. 427

    Kumar, Umesh 77

    L

    Lacroix-Destree, Yvonne 94

    Lefort, Daniel 61, 367, 393

    Lennon, Shuna 418

    Libling, D.F. 275

    Louis, Jean-Victor 385

    M

    Malaurie, Philippe 379

    Mann, F.A. 206, 308, 388

    Masera, Rainer Stefano 387

    Mathieson, Donald J. 55

    Mehnert, Ralph J. 84, 90, 384

    Morsicato, Helen Gernon viii

    O

    O’Brien, T.R. 136

    Oliver, Lord Justice 418

    Oppetit, Bruno 226

    P

    Padoa-Schioppa, Tommaso 383

    Pagan, Jill C. 189, 286

    Pöhl, Karl Otto 383

    Portwood, Timothy 308

    R

    Robinson, J. Michael 306

    S

    Saccomanni, Fabrizio 20

    Shihata, Ibrahim F.I. 105, 107, 110, 111

    Siblesz, H.H. 122

    Silkenat, James R. 336

    Simon of Glaisdale, Lord 258, 271, 321

    Smaghi, Lorenzo Bini 385, 428

    Stern, Ernest 151

    Sunt, Chris 367

    T

    Tavlas, George S. 248

    Triffin, Robert 152

    U

    Ullmann, Harold 226

    V

    van Ypersele, Jacques 42

    Vaux, James 419

    Volcker, Paul 17

    Vroegop, Johanna 314

    W

    Wassermann, Ursula 101

    Welter, Reinhard 215, 273

    Werner, Pierre 90

    Widman, F. Lisle 71

    Wilberforce, Lord 257, 258, 260, 277, 291, 292

    Whelan, Christopher J. 301

    Wood, Philip R. 271

    Index D. Subjects

    (References in this index are to the first page only of a discussion that extends through several pages)

    A

    Adequate official liquidity, 64

    American Law Institute, 332

    Appropriate exchange rates

    • and confusion with damages for loss, 344

    • choice of by IMF when only member’s own currency is involved, 160

    • choice of when payment to IMF delayed, 164

    • for translating foreign currency claim, 416

    • former IMF practices on choice of, 156

    • in U.K. practice, 189

    • present IMF practice on choice of, 159

    • problems of choosing, 155

    Appropriate measures, 5, 7, 37, 66, 191, 250, 251

    Arbitration, 415

    Artificial judicial difficulties in reaching fair results, 420

    Asian Monetary Unit (AMU), 184

    Averaging exchange rates, 180, 412

    • by EBRD, 182

    • by IDA, 182

    • by MIGA, 181

    • for certain IMF purposes, 185

    • for SEC, 186, 189

    • not adopted by IMF for basic activities, 180

    • period for, 182, 183

    • two classes of, 181

    • two forms of, 180

    • under Asian Clearing Union Agreement, 183

    • under Convention on Civil Liability for Oil Pollution Damage etc., 183

    • under GATT, 185

    • under treaties, 180

    B

    Bank’s duty to advise customer, 421

    Bank for International Settlements (BIS), 94

    Basket of currencies and basket currency, 92

    Basle Agreement of March 1979, 33, 42, 50, 55, 93, 97, 164

    • text, 58

    Bills of Exchange Act, 1882, 375, 377

    Blocked payments, 265

    Breach date rule considered unsatisfactory because currencies are floating, 257

    • and judgment date rules, comparison of, 343

    Bretton Woods organizations, variety among units of, 115

    British Columbia Commission’s Report, 297, 299, 300, 301, 302, 303, 304

    • recommendations of, 304

    Bundesbank action of June 16, 1987 on ECU clauses, 366, 387

    Business days, 160

    C

    Canada

    • constitutional problem, 304

    • validation of composite units, foreign currency as denominator, 371

    Capital flows, 55, 405

    Central banks, 404

    Certainty, 301, 342, 344, 417, 423

    Chinese law on transcending legal limits on joint ventures, 130

    Claim for demurrage in English law, classification of, 205

    Claim to interest, classification of, 309

    Claims for currency in which plaintiff truly felt loss, 265

    Claims to share in fund not involving insolvency, 216

    Clearing mechanism, 410

    Commercial experience versus precedent, 257

    Communiqués, 18

    Community judgment, meaning of, 296

    Compatible macroeconomic policies, 405

    Competitive devaluation, 16, 50, 196

    Composite units created by intergovernmental agreements, 369, 375, 376, 377

    Compound interest, 303, 308

    Conflicts in insolvency, between classes because of exchange rates, 207

    Contractual exchange rate and delayed payment, 363

    Contrast between payment before and after order enforcing foreign judgment, 355

    Convention on Code of Conduct for Liner Conferences, 133

    Convergence of policies, 49

    Convertibility, 45, 63, 64, 251

    • of U.S. dollar, 401

    Cooperation, 55

    Cooperative arrangements, 406

    Coordination of policies, 21

    Council of Europe Convention on Foreign Money Liabilities, 317

    Crossing divergence threshold under EMS, 41

    Cumulation of margins, 44, 45

    Currency

    • appropriate currency not necessarily the one most favorable to plaintiff, 266

    • borrowed by World Bank, 220

    • choice of appropriate, 155, 412

    • common, 379, 383

    • in some legal instruments need not mean legal tender, 396

    • in which loss immediately sustained versus currency in which loss truly felt, 266

    • lent by World Bank, 220

    • of account and currency of payment, 347

      • in restitution, 288

    • of debt not transformed by Miliangos, 259

    • specified for debt versus currency to be awarded as damages for breach, 266

    • values of SDR, 68

    Currency adjustment factors (CAFs), 134, 135, 425

    • criticism of, 135, 136

    Currency and Exchange Act of Canada, 293, 297, 304, 305, 377

    • amendment of, 371

    Currency of judgments

    • amended New York law on, 336

    • amended New York rule on, 338

    • disadvantages of former English rule on, 254

    • former New York law on, 335, 349

    • procedural basis of former rule on, 256

    D

    Damages

    • distinction between recovery of debt and, 250

    • for delay in payment, 302, 303, 315, 317, 419

    • for loss, 363

      • and confusion with, 344

    • for loss after bill of exchange dishonored, 169

    Defendant’s benefit and plaintiffs expense in restitution

    • and choice of currency awarded, 287

    Defendant’s option of currency in satisfying judgment, 342

    Defendant’s option to discharge foreign currency debt with sterling, 265

    Delayed payments

    • to IMF and appreciation, 165

    • to IMF and depreciation, 165

    • to IMF and maintenance of value, 165

    • to IMF compared with judicial practice, 167

    Delors Committee Report, 88, 96, 384

    Denning, Lord, creative role of, 256

    Denominator, common, 34

    Denominator, common, gold as, 5, 9, 34, 249

    Denominator, meaning of, 62

    Depreciation of sterling and equitable relief, 380

    Deutsche mark, 407, 409

    Distribution proceeding, definition of, 213

    Discretionary system, variety of views on, 17, 20

    • Paul Volcker’s views on, 17

    Divergence threshold, 40

    Domestic policies, 10, 16, 42

    E

    EBRD, 106, 113, 139

    • and problem of unit, 112

    • aspects of EBRD, 99

    • compromise on unit, 112

    EC (European Community), 34

    • anti-dumping rules, 179

    • denomination of share capital in EC countries, 279

    EC Convention on Jurisdiction and Enforcement of Judgments, 295

    ECU (European Currency Unit), 33, 34, 38, 39, 40, 41, 54, 60, 61, 82, 87, 98, 100, 134, 139, 164, 177, 180, 182, 191, 279, 365, 371, 374, 376, 377, 380, 383, 384, 385, 388, 389, 392, 393, 398, 406, 409, 410, 426, 427, 428

    • advantages of as unit, 89

    • and Agreement Establishing EBRD, 99

    • and drachma, 84

    • and Euromarkets, 91

    • and foreign money index, 370

    • and IMF authority to borrow, 98

    • and investment by IMF, 98

    • and negotiability, 372

    • and peseta, 85

    • and unbundling, 92

    • and usury laws, 370

    • as common denominator, 191

    • as currency, 426

      • diversity of views on, 383

      • objections to recognition, 387

      • SEC on, 394, 397

      • U.S. developments on, 394

    • as foreign money, 369

    • as sole means of payment, 394

    • as symbol and instrument, 410

    • as unit of account, 82

    • as unit of EBRD, 112

      • U.S. opposition to, 112

    • Banking Association, 94

      • Legal Committee of, 95

    • Belgium, country of origin of, 398

    • Bundesbank action of June 16, 1987, on ECU clauses, 366, 387

    • change in definition and preservation of value of, 84

    • changes in definition, criteria under EMS, 86

    • character of, according to Delors Committee Report, 384

    • characterization of, official reaction to, 387

    • clearing system, 92

      • legal instruments of, 94

    • composition of, 82

      • occasions for revising, 86

        • first, 83

        • second, 84

        • third, 85

      • political negotiation of, 87

    • composition of, unanimity for changing, 87

    • escudo and, 85

    • exchange rate between SDR and, 97

    • IMF as holder of, 96

    • in treaty law, 99

    • judgments in, 365, 383, 426

    • judgments under legislation on ECU as foreign currency, 386

    • legal basis of EMS and, 95

    • legislation on as foreign currency, 386

    • link between private and official, 61

    • lira and, 86

    • market rates of, 40

    • not currency of member in World Bank practice, 373

    • other holders of, 96

    • peseta and, 85

    • pound sterling and, 86

    • private ECU, see Private ECU

    • registration of Community judgment expressed in, 389

    • relationship between SDR and, 96

    • stability of value, 83, 89

    • transactions in ECU and Eurocurrency, difference between, 91

    • treated as a foreign currency, 91

    • Uniform Foreign-Money Claims Act, discharge of judgment under, 398

    • validity of clauses, 365, 375

    • valuation of currency under EMS, 164

    • World Bank lending denominated in, 373

    Elements in judgments for plaintiff, 417

    EMS (European Monetary System), 9, 13, 18, 31, 32, 33, 34, 44, 47, 52, 53, 54, 55, 82, 120, 248, 254, 402, 404, 405, 406, 407, 408

    • amendment of, 96

    • and par value system, differences between, 34

    • bilateral parities and central rates under, 39

    • central rates, changes in, 47, 49

    • central rates, criteria for changes in, 48

    • central rates under, 33, 39

    • changes in ECU definition, EMS criteria for, 86

    • compatibility with IMF Articles, 35

    • compatibility with “specific principles” of IMF, 36

    • crossing divergence threshold, 41

    • divergence indicator under, 39, 41, 86, 191

    • divergence under, maximum, 40

    • diversified intervention under, 42

    • establishment of, text of resolution on, 56

    • evaluation of, 55

    • exchange rate mechanism (ERM) of, 82

    • financing of intervention under, 50

    • flexibility of, 55

    • intervention under, 38

    • intramarginal intervention under, 38, 39, 42, 46, 50

    • joint management of, 88

    • legal basis of, 95

    • margins under, 33, 40

    • notional margins under, 41

    • parity grid, changes in, 88

    • realignments within, 88

    • reserves under, 54

    • settlements, 54

    • settlements and use of IMF resources, 54

    • settlements in SDRs under, 97

    • settlements under, 97

    • valuation of currency in relation to ECU under, 164

    Enforcement of contract to pay only in foreign currency or composite unit, 394

    Enforcement of judgments expressed in composite unit of account, 392

    • in ECU, 393

    English Law Commission, 129, 156, 212, 216, 263, 264, 295, 296, 306, 307, 309, 345, 347, 354, 389, 394

    • and automatic right to damages, 317

    • and foreign judgments, 295

    • and restitution, 289

    • conclusions—text, 269

    • conclusions on currency of judgment, 268

    • on desirability of power to give judgment in foreign currency, 269

    • on set-off, 271, 272

    • preferences on interest, 308

    • Report, 346, 382

    • solution on set-off, implication of, 272

    • working paper, 339

    English principles for choosing most appropriate currency as damages for breach, 267

    Enhanced structural adjustment facility of IMF, 127

    Equal value, 158, 168

    • and use of SDR, 65

    ERM (exchange rate mechanism of EMS), 82

    Eurodollars, 265

    European Communities Enforcement of Community Judgments Order, 295

    European Company Statute proposed, 279

    European Court of Justice, decision on exchange rates, 177

    • decision on EUA, 389

    European narrow margins arrangement (“snake”), 53

    European single market, 55

    • and exchange rates, 55

    European Unit of Account (EUA), 93, 177, 389, 428

    Exceeding limits under treaty or statute, 411

    Exchange arrangements

    • categories of, 9, 12, 20

    • changes of, 12, 24

    • choice of, 10, 403

    • discretionary system of, 14, 191

    • firm and soft obligations on, 10

    • obligations under IMF Articles, 10

    • orderly, 406

    • present IMF provisions on, 9

    Exchange control, 327

    Exchange guarantees, 138

    • by U.S., 414

    Exchange rates

    • abnormal changes in, 236, 241

    • and equal treatment in EC, 179

    • applicable, desirability of prescribing, 176

    • appropriate, see Appropriate exchange rates

    • at date of actual payment, 259

      • under treaties, 171

    • at date of enforcement of judgment, 329

    • at date of order enforcing judgment, 259

    • averaging, see Averaging exchange rates

    • between SDR and ECU, 97

    • between two foreign currencies, 283

    • calculation of, 155

    • case for objective indicator in IMF of amount of change in, 197

    • choice of exchange rates as at same time, 162

    • choice of markets for selecting exchange rates, 162

    • contractual rate and delayed payment, 363

    • contrary to IMF Articles, 176

    • coordination of, 55

    • court’s option to choose, 303

    • disputed, 177

    • established, 169, 170

    • European single market and, 55

    • exceptions to choice of latest feasible, 424

    • fluctuations, see Fluctuation of exchange rates

    • for judgments, possible choices of, 340

    • for noncontractual liability in EC countries, 178

    • for production refunds in EC, 177

    • freedom of parties to choose, 156, 168, 412, 423, 424

    • freedom of parties to choose for transfer of SDRs, 160

    • IMF approval of, 362

    • in bankruptcy, 298

    • in distribution proceeding under Uniform Foreign-Money Claims Act, 213

    • in U.K. practice, appropriate rate of, 189

    • international emergencies and, 121

    • if bill of exchange dishonored, 169

    • latest feasible, 423

    • nominal effective, 198, 201

    • on single date versus averaging over period, 181

    • plaintiffs option on, 302

    • possible, 345

    • possible dates for choice of, 299

    • problems between two foreign currencies, 229

    • ruling in case of dishonor of bill of exchange, 169

    • selection of, 155

    • stable system of, 17, 49, 197, 402, 403, 405, 406, 411

    • under treaties on investment, 171

    Exchange rate changes

    • and damages for late payment of debt in English law, 203

    • and hardship clauses, 227

    • and interest as remedy for late payment of damages in English law, 205

    • and general and special damages for late payment of debt in English law, 203

    • choosing standard for measuring change under GATT, 192, 194

    • common standard for measuring, 191

    • distinction between higher operating costs and, 227

    • during administration of insolvency, 207

    • effects of notices in IMF measuring, 199

    • IMF criteria for measuring, 198

    • IMF appraisal of measured, 200

    • measuring, 190

    • negotiable instruments and, 168

    • notices in IMF measuring rates and effects of, 198

    • possible recalculation of claims in insolvency because of, 208

    • uniform standard for measuring, 192

    Exchange risk

    • allocation and sharing of, 202

    • allocation of, in insolvency, 206

    • equal distribution of, 218

    • equitable relief from under Spanish law, 224

    • in bilateral relations, 202

    • in insolvency, English cases on, 206

    • in multilateral relations, 206

    • in relations of various parties with single entity, 206

    • special situation of, 223

    • technicality and realism in allocation of, 203

    Exchange stability, 2, 11, 403

    Export guarantees and legal limits, 129

    Expression of judgments in currency or money, 381

    • in SDR or ECU, 383, 426

    • under legislation on SDR or ECU as foreign currency, 386

    F

    Fairness, 416, 422, 423, 424

    • in multilateral situation, 422

    Financial terms, automatic or discretionary modification of, 425

    Fixed rate systems, characteristics of, 42

    Fixed weights and fixed amounts in basket valuation, 68

    Fluctuation of exchange rates

    • acceptance of liability for, 138

    • adjusting to, 132

    • adjustment under Asian Clearing Union, 184

    • automatic adjustments to, 134

    • definition of, 31

    • denial of protection against, 420

    • discretionary adjustments to, 132

    • IDA changes in practice because of, 149

    • inadequate reaction of English law to, 205

    • legal effects of, 31

    • protection against, 420

    • remoteness of damage and, 315

    • safeguards against, 403, 405

    • shortcomings of English tax law on gains and losses resulting from, 286

    Force majeure, 227

    Foreign currency

    • as commodity, 250, 259, 382

    • debt, defendant’s option to discharge with sterling, 264

    • denomination of share capital in foreign currency, 278

    • deposits in United States, 253

    • discharge of judgment expressed in, 418

    • early arbitral award in, 255

    • expansion of “debt” to include, 281

    • expansion of “money” to include, 281

    • in English law, alleged option of plaintiff to claim sterling and not, 262

    • judgments in, see Judgments in foreign currency

    • meaning of, 395, 396

      • not commodity, 281

    • rejection of option for plaintiff to claim sterling instead of foreign currency, 263

    • U. S. decision expressed’in, 339

    Foreign judgments, 354

    Foreseeability, 226, 234, 263, 264, 315, 316, 418, 419, 422

    • and business risks, 235

    • and changes in peg, 241

    • and international developments, 245

    • cases on, 239

    • meaning of, 264

    • of loss resulting from change in exchange rates, 203

    • of special loss, 204

    • of what? 316

    • under discretionary system, 238

    Forum shopping, 311, 350

    • and SDR, 78

    Forward contracts, 268, 269, 421

    • duty to mitigate damages by, 244

    • effects of not negotiating, 242

    • trade practice of, 243

    Free financial market, 361

    Freely usable currency, 159

    Frustration of contracts, 226, 230, 240

    Full faith and credit clause of U.S. Constitution, 355

    Fundamental disequilibrium, 3, 11, 48, 196

    G

    GATT, 134, 185, 190, 192, 193, 198, 199, 223

    • Article II:6(a) of—text, 193

    • guidelines on measurement of exchange rate under, 185, 195, 199, 223, 420, 425

    • guidelines under and function of IMF, 195

    • measuring change in exchange rates under, 190, 192, 198

    • specific duties under, 192

    Gaucho, 101

    Generalizations based on study, 420

    General loss and special loss, 316

    German Currency Act of 1948, 366

    Germinal franc, 104, 120, 124

    Gold, 62, 63, 64, 65, 66, 115, 124, 403, 406, 411

    • clauses, 367

    • coins as legal tender in England, 381

    • as common denominator, 62, 157, 190

    • dollar, 113, 411

      • effects of World Bank interpretation of, 106

    • effects on treaties of demonetization of, 118, 124, 411

    • franc, 119, 121, 123, 124, 125

    • franc and SDR in UPU, 124

    • pound sterling as unit of account, 381

    • present role of, 9

    • rejection of market price of as unit, 115

    • sales of by IMF, 142

    • standard, 124

    • tranche, 51, 54

    • transactions, 5, 37, 38, 44

    • transactions of United States, 6, 62, 63, 66, 138, 140, 157, 190, 250

    • transactions, U.S. practice, 7

    • units of account, 69

    • value, 102, 140, 167

    • value of currencies, official, 104

    • value of floating currency, 140

    Gold tranche, 51, 54

    Group of Five, 18, 404,

    Group of Seven, 18, 404, 405

    Group of Ten, 63, 401

    H

    Hague Rules, 102

    Hardship, 339

    • Argentine case on, 231

    Hardship and other doctrines, 226

    Hardship clauses, 226, 380, 421

    • advantages of, 229

    • and changes in exchange rates, 227

    • and monetary disturbances, 231

    • and private international law, 233

    • and specified adjustments, 227

    Hegemonic currencies, 248, 333, 337

    • and legal dogma of stability, 249, 413

    • at present, 407

    I

    ICC draft hardship provisions, 230

    IDA, 412, 426

    • and SDR as unit, 149

    • changes in practice because of fluctuation, 149

    • replenishments, 426

    • replenishments and developments on unit, 114

    • unit, 113

    IMF (International Monetary Fund)

    • adjustments under maintenance of value in, 145

    • administration of contributed resources by, 127

    • advice to organizations by, 172

    • ambiguity under Articles, 10

    • and external contingencies, 246

    • and several units of account, 126

    • appraisal of measured change in exchange rates, 200

    • approval of exchange rate, 362

    • arrears to, 127, 164

    • Article IV—text, 21, 35

    • Articles and Amendments, 1

    • Articles and EMS, amount of use of resources under, 52

    • Articles and hegemonic currencies, 249

    • Articles, initial par values under, 49

    • as holder of ECUs, 96

    • authority to borrow and ECU, 98

    • averaging exchange rates for certain purposes, 185

    • book rate of, 160

    • borrowing from nonofficial lenders and SDR as unit, 76

    • choice of appropriate rate by when only member’s own currency involved, 160

    • choice of appropriate rate, practice of, 159

    • choice of appropriate rate when payment to is delayed, 164

    • claims by and against in private SDRs, 77 compensatory and contingency financing facility of, 246

    • consultation by other organizations with, 172

    • delayed payments to, see Delayed payments to IMF

    • disinvestment by, consequences of, 153

    • enhanced structural adjustment facility of, 127

    • exchange arrangements, provisions on, 151

    • financial structure of, 141

    • financing of intervention under Articles, 50

    • “firm” surveillance of, 21, 197

    • First Amendment of Articles, 401

    • General Arrangements to Borrow, 400

    • grants by, 128

    • guidelines and measurement of exchange rates change in, 200

    • international monetary system, concept of, under Articles, 405

    • investment by, 98, 126, 131, 143, 144, 151

    • investment (original) by, 151

    • legal tender under Articles, 396

    • maintenance of value in, 140, 141, 143

    • maintenance of value and IDA, 147

    • measurement of changes in exchange rates, classes of members for, 200

    • measuring change in exchange rates by, 196

    • members and nonmembers in relation to SDR, 411

    • need for resources, 52, 53, 54

    • objective indicator, case for in amount of change in exchange rates, 197

    • par value under Articles, 8, 49, 407

    • policy on flexibility, 20

    • power of investment, 420

    • power to suspend margins, 69

    • provisions on international emergencies, 121

    • publication of SDR values, 79

    • resources, three different needs to use, 53

    • unchallengeable use of, 52

    • sales of gold, 126

    • Schedule C of Articles, 8, 34, 35, 39, 48

    • Second Amendment of Articles, 7, 32, 403

    • Second Amendment and United States, 402

    • Second Amendment, freedom under, 405

    • specific principles for guidance of members, 15

    • stand-by arrangements, 247

    • stand-by arrangements and external contingencies, 246

    • stand-by arrangements not treaties or contracts, 146

    • supplementary financing facility and open-ended budgetary commitments, 108

    • supplementary financing facility, solution of U.S. budgetary problem, 109

    • surveillance by, 15, 19, 403

    • technical assistance by, 128

    • three-business-day rule of, 157, 159, 165, 166, 168, 180, 424

    • transcending legal limits under Articles, 131

    • use of resources and EMS settlements, 54

    Import-weighted effective exchange rate, 195, 201

    Impossibility no defense to monetary claim, 394

    Impracticability, 233, 239, 421

    • increased costs and, 235

    • second Argentine case on impracticability, 238

    • U.S. case on unconscionability and, 233

    Imprévision, 226, 230

    Inadequate official liquidity, 63

    Incompatible policies, 16

    Increased costs and losses, 235

    Independent floating, 13

    Index clauses, 379

    Index of competitiveness, 200

    Inferred acceptance of risk, 421

    Insolvency, 422

    • changes in exchange rates during administration of, 207

    • conflicts in, between classes because of exchange rates, 207

    • comparative advantages of earlier and later exchange rate in: German case, 214

    • contests between creditors and between creditors and shareholders in, 209

    • contests between creditors in: U.S. case on exchange rate, 209

    • contests between creditors in: Canadian case on choice of exchange rate, 211

    • contest between preferred and ordinary creditors in: choice of exchange rate, 212

    • contests between secured and unsecured creditors in: French case on choice of exchange rate, 211

    • difference between choice of exchange rates under Miliangos and in, 209

    • effects of failure to enter into forward contracts in, 212

    • English cases on exchange risk in, 206

    • possible recalculation of claims because of change in exchange rate, 208

    • single unit as of single date for administration of, 207

    Interest

    • adaptation of, 312

    • and damages, 311

    • compound, see Compound interest

    Interim Committee of IMF, 71, 127, 128

    International Chamber of Commerce, 227

    International Cocoa Agreement, 133

    International Fund for Agricultural Development (IFAD), 173

    International markets, 16

    International Natural Rubber Agreement, 101, 132

    International payments under French law, 379

    International policies, 10

    International Telecommunication Union, 426

    • and nonmembers of IMF, 120

    • and SDR, 119

    • and unit, 118

    • legal instruments of, 119, 122

    • settlements under, 121, 123

    Interpretation of sterling gold value, 102

    Intervention, 4, 5, 15, 18, 37, 42, 43, 44, 45, 403

    • currency, 4, 6, 46

    • intramarginal, consent to, 42, 46, 50

    • intramarginal under EMS, 38, 39

    • multicurrency, 43

    • under EMS, 38, 39

    Investment

    • as substitute for maintenance of value, 151

    • by IMF and ECU, 98

    • by IMF, 126, 131, 143, 144

    • by IMF, present powers, 152

    J

    Joint floating, 13

    Joint Resolution of June 5, 1933, (United States), 367

    Judgment debtor’s discharge of foreign currency judgment, 413

    Judgments in foreign currencies, 248, 412

    • application of proposed principles of law on judgments when foreign currency involved, 419

    • controversial English decision on, 261

    • in SDR or ECU, 365

    • motivation for reconsidering former law on, 338

    • proposed principles of law on when foreign currency involved, 417

    Judicial activism, 258

    Judicial sensitivity to national policy, 280

    Judicial tendency to deny relief for change in exchange rates, 241

    L

    Legal developments on expression of judgments in foreign currency, 254

    Legal tender, 384, 396, 428

    • requirement of payment in, 383

    • under IMF Articles, 396

    Legislation on SDR or ECU as foreign currency, 386

    Lex causae and lex fori, 308, 309, 310, 311, 312, 313

    Loss may truly be felt in more than one currency, 268

    Louvre Accord, 404

    M

    Maintenance of value, 137, 412

    • adjustments under in IMF, 145

    • and adjustments to fluctuation, 137

    • and appreciation under original IMF Articles, 166

    • and IDA, 147

    • and investment, U.S. attitude toward, 153

    • and sanctions, 140, 166

    • and World Bank, 146

    • difficulties of no, 148

    • effects of in IMF, 141

    • for international organizations, 139

    • in IMF, 140

    • in IMF and appreciation, 141

    • limitation of, 143, 148

    • present IDA practice on, 151

    • reasons for, 139

    • under IDA replenishments, 148

    • under IMF’s Articles, 425

    • under public international law, 137

    Malaysian/Singapore cent as unit, 101

    Manipulation, 10, 16, 138, 195, 196

    Margins, 4, 6, 9, 34, 35, 37, 43, 44, 45, 46, 69, 155, 191, 251

    • conflicting, 35

    • discretion to vary, 47

    • problems of cumulation of, 46

    • reasonable, necessity for, 46

    • suspension of, 121

    • under EMS, 33, 40

    Maritime claims, establishment of fund, 216

    Maritime Commission of United States, 134, 136

    Market sentiments, 404

    Member responsible for own currency, 252

    Merger of cause of action in judgment, 356

    MIGA, 139, 173, 245, 253, 428

    • and exchange rates, 173

    • and risks, 110

    • categories of exchange rates, 174

    • exclusion of exchange losses, 245

    • guarantees against categories of losses under, 245

    • unit of account for, 110, 111

    Miliangos

    • and company law, 278

    • and garnishment, 281

    • and New York law, 336

    • and nominalism, 315

    • and restitution, 286

    • and tax law, 283

    • and tort, 276

    • difference between choice of exchange rates in insolvency and, 209

    • doctrine, approximations to, 423

    • expansion of decision in English law, 260

    • exporters and importers, residents and nonresidents, and, 261

    • in Australia, 290

    • in Canada, 293

    • in Cyprus, 313

    • in New Zealand, 314

    • in other jurisdictions, 290, 413

    • in Scotland, 318

    • in South Africa, 319

    • in United States, 333

    • in Zimbabwe, 326

    • line of cases, approval of, 270

    • other consequences of in English law, 276

    • post-Miliangos developments in U.S. law, 331

    • revolutionary impact of, 256

    • timing of decision, 258

    • v. George Frank (Textiles) Ltd, 256

    Misalignment, 16

    Monetary, meaning of, 374

    Monetary judgments, former English rule that must be expressed in sterling, 249

    Monetary reserves, gross and net, 53

    • definition under UN Convention on Negotiable Instruments, 373

    • meaning of, 382

    Multicurrency intervention, 43

    Multiple currency practices, 45, 175

    • and wider margins, 45

    N

    Naylor and Ozalid cases compared, 315, 323

    Need for more than one unit, 126

    Negotiability, 372

    Negotiable instruments and exchange rates, 168

    New York Judiciary Law, amendment of, 353, 414, 415

    New Zealand case on exchange losses resulting from delayed payment, 242

    No cause of action in damages for late payment of damages in English law, 205

    Nominal effective exchange rates, 198, 201

    Nominalism, 138, 243

    O

    Official rate of exchange, 172

    Omnibus Trade and Competitiveness Act 1988 (U.S.), 17, 20, 26

    • text, 26

    Once a foreign currency claim, always a foreign currency claim, 343

    Ontario legislation, 305, 347

    Open and closed baskets, 93

    Open-ended budgetary commitments and units, 108, 112, 146, 154

    Options and discretions when foreign currency claim involved, 417, 422

    Options of place and date of exchange rate on dishonor of bill of exchange, 171

    Orderly underlying conditions, 12

    Organization for Economic Cooperation and Development, 138

    Outline of Reform,42, 43

    Ozalid decision, ambiguities of, 263

    P

    Parities, 4, 133, 191

    Partly fixed and partly floating arrangements, 14

    Par values, 3, 66, 140, 156, 157, 190, 191

    • and SDR, 66

    • change in par value of U.S. dollar, 224

    • changes in, 3, 47

    • size of changes in, 48

    Par value system, 2, 3, 31, 39, 42, 43, 46, 62, 64, 69, 108, 122, 139, 140, 141, 155, 186, 187, 192, 193, 249, 252, 259, 285, 407

    • abandonment of, 7

    • characteristics of, 407

    • differences between EMS and, 34

    • opposition to, 8

    • under IMF Articles, 8

    • under Schedule C of IMF Articles, 407

    • under Second Amendment, 34

    Payment of money and services as benefits in restitution and choice of currency awarded, 288

    Peg, changes in, 13

    Pegged currencies, 12, 13, 19

    Penalizing nonperforming party, 425

    Plaintiffs duty to protect himself, 300, 301

    Plaintiffs option on currency of judgment, 339

    • on exchange rate, 302

    Plaza Accord, 404

    Poincaré franc, 104, 115

    Postjudgment interest, 313, 418

    Predictability, 31

    Prejudgment interest, 302, 303, 305, 417

    • and postjudgment interest, 307, 309, 312

    Present and emerging fundamental disequilibrium, 48

    Principal agreement and guarantee agreement, 232

    Private ECU, 60

    • advantages of, 61, 410

    • evolution of, 90

    • link between private and official, 61

    • origin and growth of, 61

    • reasons for use of, 88

    • success of, 410

    Private SDR, 60, 74

    • advantages of, 61

    • claims by and against IMF in, 77

    • link between private and official, 61

    • origin and growth of, 61

    • promotion of, 72

    • use of and composition of, 76

    Public policy, 330, 379

    Purchasing power, 312, 341

    • as factor, 302

    R

    Rate of exchange

    • and foreign judgments, 294, 295, 296

    • under SEC rules, 189

    Real effective exchange rates, 198, 201

    Reasonable expectations, 357

    Reduction in profit distinguished from financial loss, 236

    Regional arrangements, 402

    Remoteness of damage, 326

    • and fluctuation, 316

    Representative rates, 158, 161, 163

    • for currency in market of that currency, 163

    • for currency in other markets, 163

    • procedure for determining, 164

    Repurchase under IMF Articles, 51, 96

    Reserve assets, 71

    Reserve tranche, 52, 54

    • and capital outflow, 52

    Resistance in IMF to quantitative indicator of change in exchange rates, 197

    Respect for parties’ choice of currency for all purposes, 266

    Restatement, proposed variant of, 334

    Restitutio in integrum, 169, 179, 202, 267, 287, 301, 303, 341, 343

    • different versions of, 342, 343

    • rationale of, 343

    Restitution, unjust enrichment, and choice of currency, 287

    Review Committee on Banking Services Law (of United Kingdom), 374

    • government’s response to, 377

    Retained powers under Treaty of Rome, 36

    S

    Safeguards in discretionary system, 15

    Same real value, 117

    SDR, 9, 12, 13, 34, 38, 60, 61, 63, 66, 69, 80, 97, 105, 107, 111, 117, 119, 120, 121, 123, 124, 130, 139, 141, 144, 146, 147, 149, 150, 151, 152, 153, 154, 157, 160, 165, 180, 182, 183, 185, 191, 192, 193, 194, 221, 223, 249, 252, 280, 365, 371, 374, 380, 398, 401, 408, 409, 410, 411, 426, 427, 428

    • allocations of, 63, 64, 75, 410

    • and ECU, relationship between, 96

    • and ECU as foreign money, 369

    • and equivalent value over time, 79

    • and forum shopping, 79

    • and gold franc in UPU, 124

    • and IDA’s ninth replenishment, 114

    • and International Telecommunication Union, 119

    • and purchasing power, 78

    • and World Bank, 105

    • as model for other composite units, 406, 410

    • as principal reserve asset, 37, 71

    • as unit of account, 60, 65

    • as unit and nonmembers of IMF, 116

    • as unit in groups of treaties, 78

    • as unit in treaties, motives for, 79

    • basket, shrinking composition of, 70

    • basket valuation of, 67

    • changes in attitude of nonmembers of IMF to, 116

    • change in valuation of, 70

    • characteristics and uses of, 64

    • classification of changes in definition, 81

    • composition of first revision of basket, 70

    • composition of original basket, 69

    • criteria for changes in definition, 70, 72

    • criteria for composition of basket, 72

    • currency values of, 68

    • daily rates, publication of, 68

    • definition, majority for change in, 80, 88

    • definition of, 406

    • definition, original, 64

    • definition, political negotiation of, 73

    • definition, pre-amendment, 66

    • definition, preservation of value of on change in, 84

    • definition, publication of criteria for change in, 87

    • definition, relaxation of strict criteria for, 74

    • departure from as unit, 79

    • devaluation of U.S. dollar and definition of, 65

    • expression of judgments in, 383, 426

    • expression of judgments under legislation on SDR as foreign currency, 386

    • first revision of valuation, 69

    • fourth revision of valuation, 74

    • freedom of parties to choose exchange rate for transfer of, 160

    • hedging against risk, 72

    • IDA and SDR as unit, 149

    • IMF borrowing from nonofficial lenders and SDR as unit, 76

    • IMF publication of SDR values, 80

    • improved characteristics of, 64

    • in treaties, 411

    • in treaty law, 77

    • judgments in, 365

    • legislation on as foreign currency, 385

    • link between private and official SDRs, 61

    • members and nonmembers of IMF in relation to, 411

    • nonmembers of IMF and SDR as unit, 116

    • operations prescribed by IMF, 98

    • or ECU and foreign money index, 370

    • or ECU and negotiability, 372

    • or ECU and usury laws, 370

    • origin of, 62

    • par values and, 65

    • private SDRs, see Private SDRs

    • proposed as sole unit of International Telecommunication Union, 123

    • redemption of currency with, 64

    • representative quality of, 80

    • second revision of valuation, 70

    • settlements of financial obligations with, 98

    • solution of gold valuation, 69

    • third revision of valuation, 74

    • transactions in and equal value, 97

    • validity of clauses, 365, 375

    • valuation of and legal fiction, 66

    • valuation of all currencies in relation to, 161, 163

    • valuation of U.S. dollar in relation to, 161

    Securities and Exchange Commission (SEC) of United States, 186

    • and convenience translations, 186, 425

    • on whether ECU a currency, 394

    • reasons for considering ECU a foreign currency, 397

    • registration filings with, 186

    • rules on convenience translations, 187

    Set-off and counterclaim, 275

    Set-off of claims in different currencies, 270

    • differences among solutions, 275

    • German law on in different currencies, 273

    • options for, 271

    Settlements of balances, 37

    Sharing in fund, 423

    Shortcomings of English tax law on gains and losses resulting from fluctuations in exchange rates, 286

    Single European Act, 34, 95

    “Snake” (European narrow margins arrangement), 9, 407

    Smithsonian Agreement, 49, 401

    Sovereignty, 16, 20, 32, 49, 138, 351, 383

    Special damages for exchange losses, criticism of English law on, 206

    Special Disbursement Account of IMF, legal technique of transactions through, 146

    Special loss, 316

    Substitution Account, 71, 252

    • and assignability of claims, 71

    • failure of proposal on, 252

    Suggested rationale of traditional

    • principles of U.S. law on foreign money claims, 332

    Sum certain, 351, 372, 373, 375, 382

    • in money, 375

    Summit meetings, 18

    Survey and generalizations of this study, 400

    Swap arrangements, 138, 415

    Swiss franc as unit, 123

    Symmetrical systems, 43

    T

    Target or reference zones, 19

    Tariffs, classes of, 192

    Taxation, 42

    Third Restatement, 292, 332, 339, 415, 424

    • and Law Commission reports, differences between, 341, 343

    • and New York law, 337

    • judgments on foreign money claims under, 332

    • judicial criticism of Third Restatement, 348

    • mistake on English law, 340

    • on interest, 310

    • on set-off, text, 273

    • search for neutrality and, 350

    Three-business-day rule of IMF, 157, 159, 165, 166, 168, 180

    Traditional assumption that sterling stable, 249

    Traditional principles of U.S. law on foreign money claims, 331

    Transcending legal limits, 128, 281

    • and English Law Commission, 128

    • under IMF Articles, 131

    Treaty of Rome, 32, 34, 95, 256, 257

    True currency of loss, 264, 265, 324, 325, 329

    U

    UNCITRAL and SDR as unit in treaties, 78

    Unconscionability, 233, 421

    • Australian view of unconscionability, 237

    • U.S. case on impracticability and, 233

    UN Convention on International Bills of Exchange and International Promissory Notes, 168

    UN Convention on Negotiable Instruments, 373

    Undertaking to collaborate, 252

    Uniform and equivalent value, 80

    Uniform Commercial Code of United States, 234, 372, 373

    • test of foreign currency, 372

    Uniform Foreign-Money Claims Act, 213, 217, 267, 312, 353, 356, 377, 415, 427

    • agreement of parties, 358

    • ambiguity of, 359, 361, 369, 371

    • amount of contractual claim under, 358

    • authorizes expression of judgments in SDR,

    • and composite units of account, 368

    • and definition of money, 368

    • and interest, 311

    • change in state law in U.S., 362

    • conversion date and other definitions under, 360

    • discharge of judgment expressed in SDR or ECU under, 398

    • ECU, 398, 399

    • Miliangos and, 360

    • multiple currency practices under, 361

    • option under, 359

    • and private international law, 233

    • proper currency of claim under, 358

    • proposal abandoned on contests between classes in earlier draft of, 213

    • rationale of approach under, 357

    • reasons for, 356

    • on set-off of claims in different currencies, 274

    • topics in earlier drafts deleted, 362

    Uniform value and SDR, 79

    United States and Second Amendment of IMF Articles, 402

    • attitude to international monetary system in negotiating Second Amendment of IMF Articles, 252

    • attitude to maintenance of value and investment, 153

    • budgetary problem, 411

    • budgetary problem, solution of, for IMF’s supplementary financing facility, 109

    • developments on ECU as currency, 394

    • gold dollar, 191

    • law on interest, 311

    • legislation of 1970s on gold, 367

    • motives for creation of SDR, 63

    • opposition to ECU as unit of EBRD, 112

    • opposition to SDR as unit for MIGA, 111

    • opposition to SDR as World Bank’s unit, 105, 107, 108

    • reaction to maintenance of value in World Bank, 145

    • role of, 37, 44

    • state law on currency of judgments, 334

    • Supreme Court’s interpretation of Poincare franc, 115

    • theory of exchange of assets in IMF, 108

    • Treasury Report of March 15, 1985, 76

    • view of August 15, 1971 action, 251

    Units of account

    • categories of composite, 377

    • effects of foreign currency, 414

    • frozen, 139, 182

    • meaning of, 62

    • other than SDR and ECU, developments in, 101

    Universal Postal Union, 426

    • and unit, 124

    U.S. Coinage Act, 1792, 351

    U.S. dollar

    • as hegemonic currency under IMF Articles, 408

    • as unit of account, 128, 219, 428

    • assimilation of to other currencies, 253

    • central role of, 161, 163

    • fluctuating, 33

    • implicit recognition of hegemonic role of, 250, 252

    • implied stability of, 253

    • role of, 249, 400, 402

    • valuation of in relation to SDR, 161

    U.S. Maritime Commission, 425

    Use of IMF resources, 51

    • and capital outflow, 53

    Usury laws, 532

    V

    Validity of gold value clauses in England, 368, 381

    Validity of gold and foreign currency clauses in United States, 367, 368

    Value fixed unilaterally, concept of, 120

    Volcker, Paul, views on discretionary system, 17

    Volatility, 16

    W

    Warsaw Convention and SDR solution, 115

    Weakness of judgment date rule for exchange rate, 338

    Weighted average of exchange rates, 198

    Weighted average exchange rate under U.S. taxation, 201

    World Bank, 104, 411

    • and exchange risks, 217

    • and “headroom,” 107, 128

    • and SDR as unit, 105

    • borrowing by, 218

    • borrowing denominated in ECU, 373

    • denomination of loans by, 217

    • effect of IMF Second Amendment on, 104

    • exchange of currencies by, 222

    • policies on exchange risk, 220

    • proposal to solve U.S. budgetary problem, 110

    • ratio of reserves to loans, 223

    • requirements for amendment of Articles, 108

    • reserves of, 222

    • U.S. dollar as unit, 219

    • unit, 252

    World Bank’s Currency Pooling System, 217, 420, 423, 428

    • example, 218

    • and repayments, 220

    • interest on loans by, 222

    • interpretation of gold dollar by, 104

    The Author

    Sir Joseph Gold is a graduate of the Law Schools of the Universities of London and Harvard. He was a member of the staff of the Legal Department of the International Monetary Fund from October 1946 to July 1979 and was the General Counsel of the IMF and Director of its Legal Department from 1960 to 1979. He is now Senior Consultant of the IMF. He is the author of the following books published by the IMF: The Fund Agreement in the Courts, Volumes I (1962), II (1982), III (1986), and IV (1989); The Stand-By Arrangements of the International Monetary Fund (1970); Voting and Decisions in the International Monetary Fund (1972); Membership and Nonmembership in the International Monetary Fund (1974); and Legal and Institutional Aspects of the International Monetary System: Selected Essays, Volumes I (1979) and II (1984). He has contributed many pamphlets to the IMF’s Pamphlet Series, including a series of seven devoted to legal developments involving SDRs, currencies, and gold since the Second Amendment of the IMF’s Articles, and has contributed a study of the IMF’s constitutional development to The International Monetary Fund, 1945–1965, published by the IMF in 1969. He has contributed numerous articles to the IMF’s periodicals Staff Papers and Finance & Development. His publications outside the IMF include Exchange Rates in International Law and Organization (American Bar Association, 1988) and Aspectos legales de la reforma monetaria internacional (Mexico, 1979) and a great number of articles in law journals and other publications in many countries. He is an advisor on the boards of a number of law journals, has been a lecturer at the Hague Academy of International Law, and has received an honorary LL.D. from Southern Methodist University, the Theberge Medal of the American Bar Association, a Festschrift in his honor, as well as other honors for his work.

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