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What terms describes any kind of money a creditor must accept by law in payment of a monetary debt?
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 describes any kind of money a creditor must accept by law in payment of a monetary debt?
Legal Tender
Is the 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.
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.
If a creditor sends your payment back to you do you still owe the debt?
Yes. Once a contract has been defaulted on, the creditor has no legal obligation to accept any payment other than that which was agreed on in the original contract or subsequent agreement.
Can a creditor refuse to accept a check as payment?
Yes ... why would a creditor someone even consider taking a credit card payment from someone who has a history of not paying their credit card bills. Think !!!
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
Money that a creditor must by law accept in payment of debts?
Money that a creditor must by law accept in payment of debts is known as "legal tender." Legal tender refers to currency that, by law, must be accepted if offered in payment of a debt. In many countries, this typically includes banknotes and coins issued by the government. However, creditors can still refuse certain forms of payment, such as checks or electronic transfers, unless previously agreed upon.
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.
