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What kind of money a creditor must accept by law in payment of a monetary debt?
Wiki User
∙ 10y ago
A creditor is supposed to accept all legal tender in payment of a debt. There are numerous stories around of people who have, for one sort of frustration or another, paid large debts with small change, such as pennies or dimes.
Wiki User
∙ 10y ago
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What describes any kind of money a creditor must accept by law in payment of a monetary debt?
Legal Tender
What terms describes any kind of money a creditor must accept by law in payment of a monetary debt?
Legal Tender
What term describes any kind of money a creditor must accept by law for payment of a monetary debt?
A judgment is a court order issued by the court stating that the creditor has won the lawsuit and is entitled to a certain amount of money.
Is the money that a creditor must by law accept in payment of debts?
Legal Tender.
Any kind of money that a creditor must by law accept in payment of debts?
legal tender
What do you call any kind of money that a creditor must by law accept in payment of debts?
Legal tender. In plain English, it's the currency that is in use in a particular country. US dollars in America, Sterling in the UK and Euros in much of Europe for example.A creditor is normally free to accept other forms of payment if he chooses to. The creditor may decide to accept a foreign currency rather than wait for the payment in the legal tender of the country. The creditor is normally not obliged to accept anything other than legal tender.
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
What is a back payment?
A back payment is an overdue payment from a debtor to a creditor on money owed.
What is monetary payment?
Payment with actual money or currency. money and monetary have the same root; Mone. Another way to use the word is; What's this objects monetary value? "Oh, about $15".
Do I still owe if a creditor refuses to give you payment address?
If a creditor refuses to give you payment address, you still owe them money. This might be frustrating but does not get you off the hook.
Money that a creditor must accept by law is called what?
legal tender.
Did the silk road have a money system?
over time the payment methods changed, varying from silk as a monetary form of payment to paper money
