Reese v. Stearns

Citations

• 29 Cal. 273

Syllabus

<p>Treasury Notes equal to Cold Coin in Law.—In contemplation of law, a dollar in United States treasury notes made a legal tender in payment of debts, is equal to and therefore the equivalent of a dollar in gold coin.</p> <p>Contract to Pay G-old or its Equivalent in Notes.—A contract to pay money in gold coin of the United States, or the equivalent of such gold coin if paid in legal currency, is a contract to pay the given number of dollars in any kind of lawful money of the United States, and cannot be enforced in any specific kind of money.</p> <p>Idem.—The Specific Contract Act does not authorize the entry of an alternative judgment upon such contract, payable in gold coin, or its equivalent in legal tender notes.</p>