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.
THERE are just two days left to spend Bank of England paper PS10 notes before they cease to be legal tender.
Precisely what else can be deduced from the legal tender status is a question of interpretation: the Treaty and the binding secondary legislation do not define the content of the legal tender status.
Time and again, the increasing popularity of virtual currencies like bitcoins has been a cause of concern for the government, who has reiterated that these will not be considered legal tender in India.
Summary: 'Crypto currencies are not legal tender and the government discourages its use,' says Finance Minister Arun Jaitley
Not only did the law grant the Bangko Sentral exclusive authority to issue currency in the Philippines, it also vested such currency with legal tender power by providing that "all notes and coins issued by the Bangko Sentral shall be fully guaranteed by the Government of the Republic of the Philippines and shall be legal tender in the Philippines for all debts, both public and private.
Yes, I would refuse to accept them in change now, as they are no longer legal tender.
THE decision that old pound coins will cease to be legal tender on Sunday has been branded "very hasty".
PEOPLE have just a week left to spend their old round pounds before the coins cease to be legal tender.
From midnight on Sunday, October 15, the round pound will lose its legal tender status and no longer be accepted in shops and restaurants.
First, the new 1000 forint banknotes will become national legal tender from 24 August 2017.