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Any kind of money that a creditor must by law accept in payment of debts?
legal tender
Money that a creditor must by law accept in payment for debuts is called?
Money that a creditor must by law accept in payment for debts is called "legal tender." Legal tender refers to currency that is recognized by law as an acceptable form of payment for settling debts and obligations. In many countries, this typically includes banknotes and coins issued by the government. Creditors are required to accept legal tender to fulfill their payment obligations, although they may also agree to accept other forms of payment voluntarily.
Money that a creditor must by law accept in payment for debts is called?
Money that a creditor must by law accept in payment for debts is called "legal tender." Legal tender refers to currency or coins that, by statute, must be accepted if offered in payment of a debt. In most countries, this typically includes the national currency, such as the US dollar in the United States. Creditors cannot refuse legal tender for payment of debts, though they may have other agreements in place regarding acceptable forms of payment.
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 terms describes any kind of money a creditor must accept by law in payment of a monetary debt?
Legal Tender
Any kind of money that a creditor must by law accept in payment of debts?
legal tender
What kind of money a creditor must accept by law in payment of a monetary debt?
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.
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 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 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.
What is a back payment?
A back payment is an overdue payment from a debtor to a creditor on money owed.
Money that a creditor must accept by law is called what?
legal tender.
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.
What is money that has value because the government has established it as acceptable for payment of debts?
representive money.
What describes any kind of money a creditor must accept by law in payment of a monetary debt?
Legal Tender
How would you define money?
Money is any medium that is universally accepted in an economy by sellers of goods and services as payment and by creditors as payment for debts.
