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Course Listing
Monetary Law
Last Updated Date: 8 July 2025
4 Units, Semester 1
Course Description:
Money is an all-pervasive legal concept, and an integral part of public dealings by the state and most private transactions. The course aims to develop a distinctive understanding of the legal institution of money, seen as a subject in itself, from private law and public law perspectives. Although the course may be of interest to those with a background in financial or banking regulation, it deliberately avoids considering the subject of money from those perspectives. It is primarily concerned with the common law of money, as it would apply in Singapore. It does however draw on the comparative perspectives from mixed and civil law jurisdictions, and from legal history. Together these demonstrate the broad functional commonalities that any legal system must develop if is construct a legal notion of money and main purposes its serves in the economy.
The course explains the role of law in the creation of money and in the ordering of a monetary system. It explains how law has a role to play in recognising and enforcing concepts of monetary value in private transactions. It considers the distinctive ways that property law applies to money, including the role of property law in controlling the consequences of failed or wrongly-procured payment transactions. The course considers the capacity of private law to respond to the special problems of monetary transactions involving a foreign currency system, and the legal challenges posed by new monetary developments such as cryptocurrencies.
Course Convenor: Lionel Sheridan Visiting Professor David Fox
Co-teacher(s): NA
Course Codes: LL4348 / LL5348 / LLJ5348 / LL6348
Contact Hours: 9 sessions over 3 weeks: Three 3-hour weekly seminars
Workload: Intensive: Weeks 1 – 3; Dates: 11 – 29 Aug 2025 [Mon: 6.30pm – 9.30pm, Wed: 6.30pm – 9.30pm & Fri: 3pm – 6pm]
Mode of Assessment: Class Participation - 10% & 6-hr Take Home Exam - 90% [Release: Fri, 3 Oct 2025 (3pm); Due: Fri, 3 Oct 2025 (9pm)]
Preclusions: LL4348V/LL5348V/LL6348V/LLJ5348V Monetary Law in Comparative Perspective
Prerequisites: NUS Compulsory Core Law Curriculum or common law equivalent.
Law of Contract; Principles of Property Law; Equity and Trusts
Examination Date: Different Mode of Examination
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