4 ms·

> Also at least with european banking, if you wringly send money to another account, it is also gone forever. It's not though? The money is still legally yours

> Also at least with european banking, if you wringly send money to another account, it is also gone forever. It's not though? The money is still legally yours and can be recovered via the legal system. Only if it is moved out of Europe into less well regulated areas it becomes a problem. This happens in every case though. If I give you cash and you take it to god knows where it can't be recovered either. If I give you money and let you leave with it then there is only so much any system can do.

OtomotO 5y ago
If you send money to the wrong person and they don't give it back, you can try sue them to give it back, but there is no inherent law that they must do so. Or am I wrongly informed? Because that's the knowledge I have from central european laws.
- MrMoenty 5y ago
  There is, e.g. § 812(1) BGB in German law: > Wer durch die Leistung eines anderen oder in sonstiger Weise auf dessen Kosten etwas ohne rechtlichen Grund erlangt, ist ihm zur Herausgabe verpflichtet. Diese Verpflichtung besteht auch dann, wenn der rechtliche Grund später wegfällt oder der mit einer Leistung nach dem Inhalt des Rechtsgeschäfts bezweckte Erfolg nicht eintritt. > A person who obtains something as a result of the performance of another person or otherwise at his expense without legal grounds for doing so is under a duty to make restitution to him. This duty also exists if the legal grounds later lapse or if the result intended to be achieved by those efforts in accordance with the contents of the legal transaction does not occur.
- leosarev 5y ago
  https://en.m.wikipedia.org/wiki/Unjust_enrichment https://en.m.wikipedia.org/wiki/Unjust_enrichment Basically there is law that says for every money send should be a cause, reason that justifies sending. If there is no such reason, reciever is entitled to send them back.
CRConrad 5y ago
> If I give you cash and you take it to god knows where it can't be recovered either. If I give you money and let you leave with it then there is only so much any system can do. But at least someone still has that money; it hasn't been destroyed. What happened here is the equivalent of sticking notes of the wrong currency into a currency-exchanging ATM, and it shredded them. The system itself was a destructor of value. That doesn't happen in the regular old cash-cards-and-banking system.

OtomotO 5y ago

If you send money to the wrong person and they don't give it back, you can try sue them to give it back, but there is no inherent law that they must do so. Or am I wrongly informed? Because that's the knowledge I have from central european laws.

MrMoenty 5y ago
There is, e.g. § 812(1) BGB in German law: > Wer durch die Leistung eines anderen oder in sonstiger Weise auf dessen Kosten etwas ohne rechtlichen Grund erlangt, ist ihm zur Herausgabe verpflichtet. Diese Verpflichtung besteht auch dann, wenn der rechtliche Grund später wegfällt oder der mit einer Leistung nach dem Inhalt des Rechtsgeschäfts bezweckte Erfolg nicht eintritt. > A person who obtains something as a result of the performance of another person or otherwise at his expense without legal grounds for doing so is under a duty to make restitution to him. This duty also exists if the legal grounds later lapse or if the result intended to be achieved by those efforts in accordance with the contents of the legal transaction does not occur.
leosarev 5y ago
https://en.m.wikipedia.org/wiki/Unjust_enrichment https://en.m.wikipedia.org/wiki/Unjust_enrichment Basically there is law that says for every money send should be a cause, reason that justifies sending. If there is no such reason, reciever is entitled to send them back.

CRConrad 5y ago

> If I give you cash and you take it to god knows where it can't be recovered either. If I give you money and let you leave with it then there is only so much any system can do. But at least someone still has that money; it hasn't been destroyed. What happened here is the equivalent of sticking notes of the wrong currency into a currency-exchanging ATM, and it shredded them. The system itself was a destructor of value. That doesn't happen in the regular old cash-cards-and-banking system.