legal tender


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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

n
(Currencies) currency in specified denominations that a creditor must by law accept in redemption of a debt

le′gal ten′der


n.
currency that may be lawfully tendered in payment of a debt, such as paper money or coins.
[1730–40]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.legal tender - something that can be used as an official medium of paymentlegal tender - something that can be used as an official medium of payment
medium of exchange, monetary system - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
food stamp - a government-issued stamp that can be used in exchange for food

legal tender

noun currency, money, medium, payment, specie When did the note cease to be legal tender?
References in classic literature ?
No State shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make any thing but gold and silver a legal tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts; or grant any title of nobility.
And then Joe, with the air of a Monte Cristo, drew forth a ten, a five, a two and a one--all legal tender notes--and laid them beside Delia's earnings.
Even after the new money is issued, older-design notes will remain legal tender.
The 43-year-old from Middlesbrough asked the cashier if it was legal tender and was assured that it was, so he accepted it and left.
dollar as legal tender, El Salvador has achieved a favorable investment grade rating from Moody's, Standard and Poor's and FITCH.
AN ATTEMPT to make the euro legal tender in Britain will be made in the Commons this week.
Hayek, among others, advocated free competition in money--allowing banks to issue and back their own currencies, free of legal tender laws that enforce a single standard.
The Franklin Mint was founded in 1964 by Joseph Segel (also founder of leading home-shopping channel QVC) as a private minting facility for foreign governments, initially specializing in legal tender coins, commemorative medallions, casino tokens and precious metal ingots.
Now everyone's favorite DC Comics superhero is legal tender currency.
From that time, only the Au50 note featuring Matthew Boulton and James Watt, which was introduced in November 2011, will hold legal tender status.
A spokesman said: "A note that is legal tender should be accepted and if it has not been then we can only apologise.
KARACHI, December 30, 2010 (Frontier Post ): The Federal Government has declared that the old-design banknote of Rs 500, which was introduced in April 1986, shall cease to be legal tender with effect from 1st October, 2011 and hence cannot be exchangeable from this date.