The Use Value of Money in the Law of Unjust EnrichmentLegal Studies
Publication TypeJournal Article
AbstractIn Sempra Metals Ltd v Inland Revenue Commissioners, the House of Lords, by a majority, recognised the right to recover compound interest for the ‘use value of money’, an independent benefit from the principal sum. This right is based in the principle of unjust enrichment. Nevertheless, the House of Lords could not agree on the proper understanding of ‘use value of money’ and left many important questions unaddressed which are crucial for paving the way forward for a claim for the ‘use value of money’. This paper will meet the following challenges – to justify the majority's position in Sempra Metals in recognising a right to compound interest for the ‘use value of money’; deal with the theoretical basis of ‘use value of money’; and recommend a model as the way forward for this newly recognised claim.
Citation InformationMan YIP. "The Use Value of Money in the Law of Unjust Enrichment" Legal Studies Vol. 10 Iss. 4 (2010) p. 586 - 609 ISSN: 1748-121X
Available at: http://works.bepress.com/manyip/12/