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Tender of payment refers to the act of offering or presenting a payment to fulfill a financial obligation, such as a debt or a contract. It involves providing the appropriate amount and form of payment, typically in cash or negotiable instruments, to the creditor. If the tender is refused or not accepted, it may have legal implications regarding the debtor's obligations. Proper tender of payment can also prevent default and may be necessary to discharge a debt.
What else can I help you with?
Does the refusal of a tender of payment discharge a debt?
No, refusing a tender of payment does not discharge a debt.
What is legal tender money?
a legal medium of payment
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
How do you write a letter declining a tender?
There are many websites that have templates that will teach a person how to write a letter declining tender. The way to write it is explaining why a person is declining the tender/payment.
Is the money that a creditor must by law accept in payment of debts?
Legal Tender.
In Australia is one obliged to accept Australian currency in payment?
Yes - this is what "legal tender" means. The Australian dollar is legal tender in Australia.
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 is the legal requirement for businesses to accept payment with pennies according to the paying with pennies law?
The legal requirement for businesses to accept payment with pennies is that they must accept up to 100 pennies for any transaction. This is in accordance with the "Legal Tender for Payment of Debt Act" which states that all U.S. coins and currency are legal tender for payment of debts.
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 does alternate tender mean for a credit card transaction?
An alternate tender means for a credit card means a vendor or purchaser presents an alternate form of payment.
Are coins and checks legal tender?
coins are legal tenderpersonal checks, credit cards, and similar non-cash methods of payment are not usually legal tender
