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Legal tender - Wikipedia, the free encyclopedia
Legal tender or forced tender is an offered payment that, by law, cannot be refused in settlement of a debt, and have the debt remain in force. The origin of the word is from Middle English tendre...
en.wikipedia.org/wiki/Legal_tender |
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Gresham's law - Wikipedia, the free encyclopedia
Gresham's law is commonly stated: "Bad money drives out good" , but more accurately stated: "Bad money drives out good under legal tender laws." This law applies specifically when there are two f...
en.wikipedia.org/wiki/Gresham's_law |
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The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for...
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Free market - Legal Tender law and Taxes. Are they compatible with a free market? ... A selection of articles related to Free market - Legal Tender law and Taxes. Are they compatible with a free market? ... Free market - Legal Tender law and Taxes. Are they compatible with a free market?: Encyclopedia II - Free market -
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In the USA the penalties are Cancellation of Debts and potential Imprisonment. Here is one example of our USA legal tender law penalty: ... About Money » Legal Tender Law...
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A LAW to make provision with respect to the extent to which coin shall be legal tender. sanctioned by Order of Her Majesty in Council of the ... This Law may be cited as the Legal Tender (Jersey) Law, 1957.
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"Money that may be legally offered in payment of an obligation and that a creditor must accept." In other words, legal tender is 'money' which MUST BE ACCEPTED…BY LAW.
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