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Gold Clause |
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Gold Clause A clause in a contract allowing payment to be made in gold instead of currency. A gold clause is placed in a contract if it is suspected that payment in currency may be rendered impossible due to inflation, war or some other reason. Gold clauses were common at the first part of the 20th century, but were illegal in the United States between 1934 and 1977. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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