Legal Tender


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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.

legal tender

n. all money issued by the government.

See: cash, currency, money
References in periodicals archive ?
Without much searching, Grant's advisers found two state court justices (both Republicans) who had supported the full legal tender provision of the greenbacks in state cases.
<strong style="mso-bidi-font-weight: normal;">South Carolina </strong>introduced (but not passed) a bill that would replace the US dollar with gold and silver in as legal tender in the state.
legal tender at the time the second delivery in a week is made; thereafter, payment in cash is made for prior delivery every three days or on every delivery (also known as drop to drop cash terms).
The repurchase of Albanian metal currencies with a legal tender denominated 10 Leke was approved by Bank of Albania's Supervisory Council Decision 2/2018, in accordance with Law 8269/1997 "On the Bank of Albania", as amended.
Scottish notes are legal currency but are not legal tender - not even in Scotland.
Diokno told reporters on Monday that he has already submitted his specimen signature for printing on Philippine legal tenders.
The Central Bank of Samoa has issued a statement in which it has said that cryptocurrencies are not legal tender.
As per the statement, all the earlier series of bank notes in Rs100 denomination will continue to be legal tender.
"Cryptocurrency investors in India have to bear in mind that the government doesn't consider them legal tender," Jaitley announced in his Budget speech.
And time is now running out to spend or swap the old PS1 coin before they cease to be legal tender.
The old coins cease to be legal tender on October 15.
PEOPLE have just a week left to spend old paper PS5 Bank of England notes in shops before they lose their legal tender status.