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Legal tender money?
Legal tender money is currency recognized by a government as valid for settling financial obligations, like taxes, debts, or purchases. It must be accepted for payment within the jurisdiction that issued it. Examples include banknotes and coins issued by a government's central bank.
What is legal tender money?
a legal medium of payment
What is limited legal tender money?
Legal Tender is a forced tender payment that should be not refused in settlement of a debt. http://en.wikipedia.org/wiki/Legal_tender
How do you write a letter declining a tender?
There are many websites that have templates that will teach a person how to write a letter declining tender. The way to write it is explaining why a person is declining the tender/payment.
Is the money that a creditor must by law accept in payment of debts?
Legal Tender.
In Australia is one obliged to accept Australian currency in payment?
Yes - this is what "legal tender" means. The Australian dollar is legal tender in Australia.
Are coins and checks legal tender?
coins are legal tenderpersonal checks, credit cards, and similar non-cash methods of payment are not usually legal tender
What does alternate tender mean for a credit card transaction?
An alternate tender means for a credit card means a vendor or purchaser presents an alternate form of payment.
Any kind of money that a creditor must by law accept in payment of debts?
legal tender
What is meant by the term Australian legal tender?
From "The Reserve Bank of Australia" website has this;http://www.rba.gov.au/CurrencyNotes/LegalFramework/legal_tender.htmlLEGAL TENDER The Concise Oxford Dictionary defines legal tender as "currency that cannot legally be refused in payment of debt (usually up to a limited amount for baser coins, etc.)". It is the Bank's understanding that, although Australian currency has legal tender status, it does not necessarily have to be used in transactions. Under the legal tender provisions of the Currency Act 1965 and the Reserve Bank Act 1959, refusal to accept payment in legal tender notes and coins is not unlawful. This is the case even where an existing debt is involved. However, a refusal to accept legal tender in payment of an existing debt, where no other means of payment/settlement has been specified in advance, conceivably could have consequences in legal proceedings, i.e. the creditor may be unable to enforce payment in any other form. It appears that the provider of goods or services is at liberty to set the commercial terms upon which payment will take place before the "contract" is entered into. For example, some toll collection points indicate by signs that they will not accept low denomination coins. If a provider of goods or services specifies other means of payment prior to the contract, then there is usually no obligation for legal tender to be accepted as payment.
Is it legal to refuse cash as payment in America?
Depends. If the cash payment is the payment of debt, then the payment cannot be refused, as long as the money is still legal tender. Cents stop being legal tender after a certain amount, which is why you cannot try to pay a debt using 10,000 cents for example, this can be legally refused. If it's payment in a shop, a shop has the right to refuse service to anyone as long as it is not for a racial, age, gender related reason. They do not 'have' to accept any offer of payment, nor are they disallowed from accepting payment in other forms.
Is it legal for a cashier to refuse to accept coins in payment for goods or services?
The coins are legal tender for debts public and private. It is not legal to refuse coins for payment for goods and services.
