Simple English definitions for legal terms
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Current money refers to the type of money that is used in a country, like coins and bills. It can also mean assets that can be easily turned into cash, like money in a bank account. Sometimes, people use the term "money" to refer to funds or sums of money. There are different types of money, like digital money that can be used online, or paper money that is backed by a government's credit. Lawful money is money that is accepted as payment for debts, while hard money refers to coins and cash. Real money can be money that has intrinsic value, like gold or silver, or just the cash that you have in your pocket right now.
Definition: Current money refers to the currency that is currently in circulation within a country and is authorized by the government as a medium of exchange. It can also refer to assets that can be easily converted to cash or capital that is traded as a commodity.
These examples illustrate how current money can take different forms, but they all serve as a means of exchange for goods and services within a country's economy.