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Social (legal researcher) scientist investigating the legal status of money. Chercheur en droit (en thèse) sur la définition de la monnaie comme moyen d'échange.

samedi 19 mars 2011

Material rules for legal tender cash - Treat me right

On the 14th Novembre 2009, a web company decided to engage in a marketing operation by giving out 100.000 euros in little bags of cash on the streets of Paris. The operation was first allowed by the Parisian Police Headquaters who changed their minds and then forbid the operation the day before. However, more than 5000 people arrived at the advertised location near the Champ de Mars in the 7th arrondissement. The atmosphere of frustration is said to have sparked the rioting. The government then decided that the unsuccessful marketing operation lead with legal tender money should be given a legislative response.

Therefore on 14th March 2011, the French Parliament enacted a new law that considers as a criminal offence the act of distributing money in order to attract crowds. The new article 431-29 of French criminal code distinguishes two situations: the distribution itself of legal tender coins or bank notes on the streets for marketing purposes comes with an imprisonment of up to 6 months and/or a fine up to 30.000 euros (or twice the amount distributed); and the announcement of such a marketing operation which comes with a 3 months/15.000 euros price tag.
The company itself can see its own fine multiplied by 5.

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