Introduction -- Foreign money in English courts : the impact of Miliangos -- Damages assessment problems and foreign currency -- The Commonwealth -- The United States of America -- International perspectives -- Closing observations.
Summary
Problems in assessment of damages remain among the most contentious aspects of private law disputes. The assessment exercise becomes particularly difficult when one of the parties asks that damages be assessed in some foreign currency or claims that, even though damages should be assessed in the currency of the forum, foreign exchange losses should form a head of loss. The 1975 decision of the House of Lords in Miliangos v George Frank (Textiles) Ltd was revolutionary in that it permitted English courts to award judgment in a foreign currency. Miliangos has been influential throughout the commo.
Local Note
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