Comments on: Contracts as Good as Gold http://joecobb.com/2008/06/10/contracts-as-good-as-gold/ International Society for Individual Liberty, Secretary Treasurer Mon, 08 Mar 2010 06:48:22 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Joe Cobb http://joecobb.com/2008/06/10/contracts-as-good-as-gold/comment-page-1/#comment-42 Joe Cobb Wed, 11 Jun 2008 23:30:46 +0000 http://www.joecobb.com/?p=123#comment-42 Today, the only way to protect yourself using a "gold clause" in a contract is carefully to avoid using the word "dollar." The contract should be written with reference only to grams or troy ounces of gold, with specified fineness (e.g. 0.9999). The "dollar" was transformed by the Supreme Court in Juilliard v. Greenman, 110 US 421 (1884), into a government trademark for whatever paper or token coin they choose to create. There is no way anyone can write a contract today using the word "dollar" to mean anything specific. You have to use instead a specific reference to gold grams or troy ounces. Today, the only way to protect yourself using a “gold clause” in a contract is carefully to avoid using the word “dollar.” The contract should be written with reference only to grams or troy ounces of gold, with specified fineness (e.g. 0.9999).

The “dollar” was transformed by the Supreme Court in Juilliard v. Greenman, 110 US 421 (1884), into a government trademark for whatever paper or token coin they choose to create. There is no way anyone can write a contract today using the word “dollar” to mean anything specific. You have to use instead a specific reference to gold grams or troy ounces.

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