Define legal tender. legal tender synonyms, legal tender pronunciation, legal tender translation, English dictionary definition of legal tender. n. Currency, such as coin and paper money, declared by law to be valid and sufficient for the payment of debts.

Legal Tender. All U.S. coins and currencies—regardless of when coined or issued—including (in terms of the federal reserve System) Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations that are used for all debts, public and private, public charges, taxes, duties, and dues. West's ...

Apr 24, 2022 · It is commonly referred to as lawful money. The United States regulations concerning legal tender is very clear despite the fact that most people dont like dwelling on the legal perspectives of the matter at hand.Section 31 of the Coinage Act of 1965 titled legal tender' claims that "United States coins and currency (including Federal reserve ...

Definition: Legal tender is a legally recognized payment instrument used to fulfill a financial commitment. In other words, it is an economic medium that is accepted by the legal system. ... The legal tender in any country is the commonly accepted currency, in all its denominations, used to settle economic transactions in the open market. The ...

Legal tender is currency that cannot legally be refused in payment of debt. The Coinage Act of 1965, specifically Section 31 U.S.C. 5103, defines legal tender as "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

31 U.S. Code § 5103 - Legal tender. United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

tender. Tender is to unconditionally offer money or performance to meet an obligation. The term most commonly arises in the context of the contractual sale of goods. For example, California Code of Civil Procedure § 2074 provides that “an offer in writing to pay a particular sum of money or to deliver a written instrument or specific ...

tender: [adjective] marked by, responding to, or expressing the softer emotions : fond, loving.

Sep 29, 2011 · Thus, the term "lawful money" had a broader meaning than the term "legal tender." In 1933, Congress changed the law so that all U.S. coins and currency (including Federal Reserve notes), regardless of when issued, constitutes "legal tender" for all purposes. Federal and state courts since then have repeatedly held that Federal Reserve notes are ...

Legal tender definition, currency that may be lawfully tendered in payment of a debt, such as paper money, Federal Reserve notes, or coins. See more.

Meaning of legal tender. What does legal tender mean? Information and translations of legal tender in the most comprehensive dictionary definitions resource on the web.

legal tender meaning: 1. the money that can be officially used in a country 2. the money that can be officially used in a…. Learn more.

Meaning of legal tender. What does legal tender mean? Information and translations of legal tender in the most comprehensive dictionary definitions resource on the web.