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"Paper currency, in the form of the Federal Reserve Note, is defined as an "obligation[] of the United States" that may be "redeemed in lawful money on demand." 12 U.S.C. § 411 (2002). These bills are not "money" per se but promissory notes supported by the monetary reserves of the United States."
http://ftp.resource.org/courts.gov/c...0.02-2288.html
Quoted text is in the second to last paragraph at link.
In Black's 5th, the definition of money excludes notes.
Quote:
Historically, forfeiture proceeded from the legal fiction that property used in the commission of a crime itself offends the law. See, e.g., The Palmyra, 25 U.S. (12 Wheat.) 1, 14, 6 L.Ed. 531 (1827). The forfeited res, as a legal entity, is identical with the physical article when the property is, for example, a sea vessel, an automobile, or a firearm. Currency, however, differs substantially from such objects. Paper currency, in the form of the Federal Reserve Note, is defined as an "obligation[] of the United States" that may be "redeemed in lawful money on demand." 12 U.S.C. § 411 (2002). These bills are not "money" per se but promissory notes supported by the monetary reserves of the United States. When an individual engages in a criminal transaction with paper currency, although the individual certainly uses the notes to accomplish the criminal end, the currency's monetary value funds the transaction and is also an appropriate target of forfeiture...
That explains a much deeper aspect of forfeiture to the IRS/Treasury because of the first lien on things you buy with private credit.
Thanks a bundle EZ!!
So you're saying all Al Capone had to do was demand lawful money? :-DQuote:
Originally Posted by David Merrill
Quote:
Originally Posted by Ares
I think it was really the way he made his demand for money...