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.
However, neither of the latter was legal tender for private debts.
The statement issued by CBO pointed out that this new banknote shall be in circulation as legal tender along with the existing banknotes, which shall continue to remain legal tender, and circulated side by side with these new notes.
<strong style="mso-bidi-font-weight: normal;">Utah</strong> just became the first US state to recognize gold as legal tender.<span style="mso-spacerun: yes;">&nbsp; </span>Its Legal Tender Act of 2011 allows U.S.
Travel agencies, Post Offices and bureaux-de-change outlets have been put on alert after companies in Worcester and Great Witley were targeted by the sting in which 1,000-Lev notes, no longer legal tender, are mixed with bundles of 500-Lev notes which are still legal tender.
The Royal Mint has secured a licence to strike official New Zealand legal tender coins.
But she was told the amount of coin meant it was not legal tender - so she headed to the bank to change it into notes.
"As we introduce these beautiful new notes, we want to emphasize that the older design $50 notes will remain in circulation for some time to come and will remain legal tender," said Louise Roseman, the Federal Reserve Board's director of Federal Reserve Bank Operations and Payment Systems.
If a country wants to reintroduce a national currency, it could simply use its existing euro notes and coins as legal tender until the new national money has been minted and printed.
There is a Royal success in one of the biggest races of the season as the Queen Mother's Tammuz, trained by Fulke Walwyn and ridden by Bill Smith, just holds Legal Tender to collect the first prize of pounds 9,727 in the Schweppes Gold Trophy at Newbury.
According to George, however, laser printer ink wouldn't be durable enough for legal tender.