Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Black's Law Dictionary: 2nd Edition

    Running; now in transit; whatever is at present in course of passage; as "the current month." When applied to money, it means "lawful;" current money is equivalent to lawful money. Wharton v. Morris, 1 Dall. 124, 1 L. Eld. 65.
    —Current account. An open, running, or unsettled account between two parties. Tucker v. Quimby, 37 Iowa, 19; Franklin v. Camp, 1 N. J. Law, 196 ; Wilson v. Calvert, 18 Ala. 274.
    —Current expenses. Ordinary, regular, and continuing expenditures for the maintenance of property, the carrying on of an office, municipal government, etc. Sheldon r. Purdy, 17 Wash. 135, 49 Pac. 228; State v. Board of ESducation, 68 N. J. Law, 496, 53 Atl. 236; Babcock v. Goodrich, 47 Cal. 510.
    —Current fnnds. This phrase means gold or silver, or something equivalent thereto, and convertible at pleasure into coined money. Bull v. Bank, 123 U. S. 105, 8 Sup. Ct. 62, 31 In Ed. 97; Lacy v. Holbrook. 4 Ala. 90; Haddock v. Woods, 46 Iowa, 433.
    —Current money. The currency of the country; whatever is intended to and does actually circulate as currency; every species of coin or currency. Miller v. McKinney, 5 Lea (Tenn.) 96. In this phrase the adjective "current" is not synonymous with "convertible." It is employed to describe money which passes from hand to hand, from person to person, and circulates through the community, and is generally received. Money is current which is received as money ini the common business transactions, and is the common medium in barter and trade. Stalworth v. Blum, 41 Ala. 321.
    —Current price. This term means the same as "market value." Cases of Champagne, 23 Fed. Cas. 1168.
    —Current value. The current value of imported commodities is their common market price at the place of exportation, without reference to the price actually paid by the importer. Tappan v. U. S., 23 Fed. Cas. 690.
    —Current wages. Such as are paid periodically, or from time to time as the services are rendered or the work is performed ; more particularly, wages for the current period, hence not including such as are past-due. Sydnor v. Galveston (Tex. App.) 15 S. W. 202; 'Bank v. Graham (Tex. App.) 22 S. W. 1107; Bell v. Live Stock Ca. (Tex.) 11 S. W. 346, 3 L. R. A. 642.
    —Current year. The year now running. Doe v. Dobell, 1 Adol. & El. 806; Clark v. Lancaster Co.unty, 69 Neb. 717, 96 N. W. 593.