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Fiat money is the money with no intrinsic value and its value is guaranteed by the monetary authority. Thus, Fiat money is with legal tender. People is bound to accept it.

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Q: What is the difference between Fiat money and legal tender?
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Related questions

Who use legal tender?

Legal tender is everyday money.


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


Can US money be used in Australia?

No. Only Australian currency is legal tender in Australia.


What is the legal tender of south Australia?

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What is the difference between an offer and tender?

An offer on a product is the amount of money that a person is willing to pay for a particular product. The tender is the amount of money that has actually been paid for a product.


Is Monopoly money legal currency?

No. Monopoly money is only legal tender in the Monopoly game.


Is new zealand money legal tender in Australia?

No. Most countries accept as Legal Tender only their own currency.


What is the difference between bid and tender?

A bid is making a financial offer for something or the amount of money that you will pay for something. A tender is offering a service at a specific price.


What is correct way to spell God in a legal document?

You spelled it correctly in your question. For example, our money is legal tender. It is a type of contract, if you will, between a seller and a buyer allowing that the tender represents a certain amount of value. Our money has the word "God" on it, spelled exactly as you have in your question.


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


Is it legal to photo copy paper money with the statement legal tender on it?

No sir do not do that it can land you in jail