What is Cash?

What is the Problem?

This one comes from Janice in Newcastle, and her question is…

“What is Cash?”

There are many different definitions of the word ‘Cash’, depending where you look:
For example; a quick search on the “net” produces the following:
legal tender or coins that can exchanged for goods or services. It can sometimes include the value of assets that can be converted into cash immediately;
Bills or coins; currency,
Liquid assets typically: bank deposits and marketable securities.
Paying; in currency or by check: “paid in cash”. See video for oodles more information…

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About the Presenters

Simon Goldberg

Simon, began his working life with Messrs. Coutts & Co, bankers to the Queen. During a career which has, thus far, spanned 29 years, Simon has served time as a Bank Manager, Financial Adviser, and General Manager of a major UK Broking Firm, which later became London Scottish Broking. An ex-Qualified Mortgage Adviser, Simon set up his own broking firms in late 2002... Find out more about Simon

Your hosts - Mark Moxom and Alain Braux

Mark Moxom

Mark is a multiple best selling author on food, health and business. He has had decades of experience in natural health and is an outspoken advocate of natural nutrition and drug free living. He's also the founder and executive editor of Low Carb Mag. More about Mark

The Rest of The Story

You and your Cash Help Sheet

Click image for help sheet as a PDF

Your Due Diligence

There are many different definitions of the word ‘Cash’, depending where you look:
For example; a quick search on the “net” produces the following:

  • legal tender or coins that can exchanged for goods or services. It can sometimes include the value of assets that can be converted into cash immediately;
  • Bills or coins; currency,
  • Liquid assets typically: bank deposits and marketable securities.
  • Paying; in currency or by check: “paid in cash”.

The Outline Solution

Simon’s definition of cash:
A promise to pay money (check your bank notes)

Possible Arguments Against You

This raises another important question….
What is money?

The Almost Legal Info

For accounting purposes, numerous banking instruments are treated as cash (in the capacity of cash).
In Fielding & Platt Ltd -v- Selim Najjar; CA 17 Jan 1969
References: (1969) 113 Sol Jo 160, [1969] 1 WLR 357, [1969] 2 All ER 150 Coram: Lord Denning MR, Davies, Widgery LJJ
Lord Denning said “We have repeatedly said in this court that a bill of exchange or a promissory note is to be treated as cash. It is to be honoured unless there is some good reason to the contrary.”

Helpful Paragraphs:

We’ve issued you some homework because this is something you have to see for yourself: investigate the etymology (root meaning) of the word ‘money’. You can do this on-line. This is where you put the grey matter to work.
Isn’t it funny how we “spend time”, to make money, to buy ourselves time?

Need More Help?

Ultimately, it starts with you. If you want a more detailed guide to money, cash, and banking instruments, and you want to discover how this new found knowledge can help you challenge and wipe off loans and credit cards, we’ve produce some informative materials to assist you; please go to http://youandyourcash.com/what-is-cash/

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