National Mutual Life Association of Australasia Limited v Attorney-General - [1956] NZLR 422

Currency — Money of Account — New Zealand Government Inscribed Stock and Debentures issued in 1925, 1926, and 1927 — Interest payable and Principa repayable in Melbourne "free of exchange" — Subsequent Devaluation of both Australian and New Zealand Currencies — Restoration of New Zealand Currency to Parity with English Currency — Consequent Divergence between Currencies of Australia and New Zealand — Obligation undertaken by New Zealand Government — Meaning of "free of exchange" — Rate of Exchange between Two Currencies at Time of Payment to be disregarded in determining Amount of Australian Currency payable — Obligation to repay in Melbourne in Australian Currency Number of Pounds Equal to Face Value of Stock.