This work investigates the complex legal framework governing money in both domestic and international contexts, addressing the challenges posed by monetary instability. Author Charles Proctor, a solicitor with extensive experience in banking and international finance, builds upon the foundational scholarship of F.A. Mann to analyze how legal systems respond to economic phenomena such as depreciation, devaluation, and exchange control. The text provides a rigorous examination of monetary obligations and the legal implications of monetary union within the European framework.

Legal scholars and practitioners widely regard this text as the definitive authority on international monetary law, often citing its unparalleled depth and technical precision. Experts frequently note the academic density of the prose, characterizing the work as a foundational reference for both central bankers and legal professionals.