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Q: What was the impact of the legal tender act of 1862?
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Continue Learning about General History

Which 1862 act gave large tracts of land to people that were willing to move?

Homestead Act of 1862.


Was the Homestead Act passed in 1862?

yes, it was passed may 20th, 1862.


Who was associated with the establishment of land grant colleges?

state universtites to teach agriculture and mechanical arts.


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.


What act encouraged settlers to pack up and move westward?

The Homestead Act of 1862.

Related questions

What did the US Treasury create when the Legal Tender Act passed in 1862?

Greenbacks


What did the US treasury create when the legal tender act was passed in 1862?

Greenbacks


What did Congress pass in 1862 that created a national currency and allowed the government to issue paper money?

legal tender act


What did the congress pass in 1862 That created a national currency and allowed the government to issue papper money?

legal tender act


What was passed in the summer of 1862 where congress introduced a militia law that required states to draft people for military services called?

The Legal Tender Act


What did the United states treasury create when the legal tender act was passed in 1862?

a common nation currency


When was the legal tender act of 1862 repealed?

IT wasn't. In fact it was upheld in 1875.The constitutionality of the Act was more broadly upheld thirteen years later in Juilliard v. Greenman. (re: Wikipedia)


Under the the federal government issued paper money?

B. legal tender act


Under the the federal government issued paper mone?

B. Legal Tender Act


Which 1862 act gave large tracts of land to people that were willing to move?

Homestead Act of 1862.


When was the Homestead Act act passed?

It was in 1862


Where British coins legal tender in British India?

Yes British India silver currency was unlimited legal tender in British India territory and in those states which enjoyed independent flag freedom like alwar, bikaner etc. during British rule, British India rupee was made a unlimited legal tender in 1834 after implementation of currency act. Prior to 1834 when presidencies Bombay, Calcutta & Madras were entrusted with the job of minting rupee's the Indian rupee was not a legal tender.