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<p>[QUOTE=&quot;scottishmoney, post: 431147, member: 12789&quot;]Actually not quite, there were legal matters brought before the Court in the late 1970&#039;s and early 1980&#039;s which dealt with lease contracts drawn up during the WWI era that expressed that payments had to be paid in gold coin, and nothing other.&nbsp; Basically the Court ruled that gold had in fact ceased to be a form of legal tender, and that the recipients of the leases could only draw a realistic, ie what is generally now tendered as money, and not gold coin.</p><p><br /></p><p>The cases were brought about because after the ban on gold ownership and holding was lifted in 1975, the lessors wanted to revisit the original terms of the contracts which expressed payment in gold coin and not FRN&#039;s or cheques.&nbsp; Of course the lessors wanted payment in gold coin as expressed in the contracts, since gold appreciated considerably in the late 1970&#039;s and greatly inflated potential income.&nbsp; That is a danger of long term leases.[/QUOTE]</p><p><br /></p>

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