Jump to content
CoinPeople.com

not legal tender


skywalk

Recommended Posts

From http://www.bep.gov/resources/lawsandregulations.html

 

 

Legal Tender: A Definition

Section 31 U.S.C. 5103. Legal Tender

 

United States coins and currency (including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

 

However, there is no federal statute which mandates that private businesses must accept cash as a form of payment. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.

 

 

From http://dictionary.reference.com/browse/legal-tender?s=t

 

legal tender

noun
1.
currency that may be lawfully tendered in payment of a debt, such as paper money, Federal Reserve notes, or coins.
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...