Legal tender
Medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation
Legal tender ▸ Facts ▸ Comments ▸ News ▸ Videos
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
0 shares | ShareTweetSavePostSend |
You Might Like
No news matches foundSorry, we were unable to find any results in our database for your queryFree news archive accessDid you know? You are eligible to search our news archive with millions of news references free of charge. To do this, please sign in first at the top of the screen. • Information about free access to our news archive Search this site and the web: |