I DARE you to use U.S. currency!!

Of course you realize that the manager was in the right to refuse the coins if he chose and was under absolutely no obligation to accept them.

 

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Conder-how so?, the sacs are legal tender,suppose you told the manager that the sacs are the only money you have on you?
you are trying to pay your bill with legal US money, no different from a wad of $1 bills.

 

Sure they're legal tender, but there is no law that says that he has to accept them. (Contrary to popular belief you are not REQUIRED to accept legal tender in payment of debts.) Likewise if he chose he could refuse to accept a wad of dollar bills or any other US currency.

 

To put it another way, if you go to a car dealer and try to buy a car with $12,000 worth of pennies, the dealer does NOT have to accept the pennies. Other examples are that some places do not accept bills over $20.

 

I can see what you mean with the car dealer/penny analogy; still it's an interesting situation. I wonder if there’s a legal president set by the federal court.
Maybe I’ll try to pay a 20$ restaurant bill with dimes, they will refuse to take them, I will insist they accept them and we can let the cops sort it out.
just for kicks.

 

maybe i won't

 

This is a great topic, realy enjoying it you guys have warped minds LOL Just a little something slightly off topic was wandering about how legal Scotish Bank notes were the other day as I witnessed a shop keeper refusing one
So onto the net and this is what I got its as clear as mud LOL

All Scottish banks have the right to print their own notes. Three choose to do so: The Bank of Scotland (founded 1695), The Royal Bank of Scotland (founded 1727) and the Clydesdale Bank (owned by National Australia Bank). Only the Royal Bank prints pound notes. All the banks print 5,10,20 and 100 notes. Only the Bank of Scotland and Clydesdale Bank print 50 pound notes.

Scottish bank notes are not legal tender in Scotland. English bank notes of denomination less than 5UKP were legal tender in Scotland under Currency and Bank Notes Act 1954. Now, with the removal of BoE 1UKP notes, only coins constitute legal tender in Scotland. English bank notes are only legal tender in England, Wales, The Channel Islands and the Isle of Man. In Scotland, 1 pound coins are legal tender to any amount, 20ps and 50ps are legal tender up to 10 pounds; 10p and 5ps to 5 pounds and 2p and 1p coins are legal tender to 20p (separately or in combination). 2 pounds coins and (if you can get hold of one) 5 pound coins are also legal tender to unlimited amounts, as are gold coins of the realm at face value (in Scotland at least).


Northern Irish notes are not legal tender anywhere, a situation similar to Scottish notes. Whether Scottish notes are legal tender or not does not change alter their inherent value but it dictates their legal function. Credit cards, cheques and debit cards are not legal tender either but it doesn't stop them being used as payment. Only a minuscule percentage of Scottish and British trading is carried out using legal tender. Just because something is not legal tender certainly doesn't imply it's illegal to use.

The lack of a true legal tender in Scotland does not cause a problem for Scots Law which is flexible enough to get round this apparent legal nonsense, as was demonstrated some time ago when one local authority tried to refuse a cash payment (in Scottish notes) on the grounds it wasn't "legal tender", but lost their case when the sheriff effectively said that they were obliged to accept anything which was commonly accepted as "money", and that should their insistence on "legal tender" have been supported, it would have resulted in the bill being paid entirely in coins, which would have been a nonsense; stopping short of saying that the council would have been "cutting off their nose to spite their face", but seeming to hint at it.


For tourists: You can spend Scottish notes in England and they are exactly equivalent to their English counterpart on a one for one commission free basis. If changing Sterling abroad, do not accept an inferior rate for changing Scottish notes than is being offered for English notes as the two are equivalent. You are very unlikely to encounter problems spending Scottish money in England, I did it for many years and was never refused.


The definition of legal tender is something which is acceptable as payment of a debt. If you pay using legal tender, the other person has no recourse to chase you for payment. As part of the Skye Road Bridge tolls protest, people have paid in small coins using the greatest number of small denomination coins which constituted legal tender. Using entirely 1ps for instance would not have been legal tender and could have been refused. (This definition is a simplification, see the Currency section of "Halsbury's Laws of England" for a full legal definition.)

Britain came off the Gold Standard more than 60 years ago. The Scottish banks are allowed to issue a relatively small amount without backing, and the remainder of their issue has to be backed by Bank of England notes to the same value. So the BofE goes bust, the others go with it.

 

Why do that? If you don't like them they still have value.

Ruben

 

Yes ,i like them,send them to me i'll give you a buck a piece.

 

Sorry I can't resist... but the "legal President" is set in power by the electoral college, not the federal court, and the precedent is that the members of the college vote for the candidate that they're aelected to vote for.

lol, sorry for the abuse, I couldn't help myself.

 

Well, not unless you look at Bush v. Gore in 2000 - then the "legal President" was set by the federal courts! Sorry - I couldn't resist that one!

 

I spend halves all the time and never stop getting amazed at how many times someone will say what the h___ is that supposed to be. Or I can't take that whatever it is. Just went to the bank yesterday and got my 4 rolls of halves and fivce 2 dollar bills. With them it's usually the same at stores where they'll ask if I have any more as if they are rare. I point out look how many have 2003 for a date. I refuse to get involved with the little dollars. The chances of spending them as quarters is to great. I've already found them in change as if they were quarters.

 

You're getting 2003 half dollars at the bank?? Pretty good considering they haven't been issued for circulation since 2001.

 

I would like everyone who has good economic knowledge to answer this question. Is inflation a threat to the long term well being of the world economy?

 

No. In spite of the substantial amount of inflation we have seen over the course of the last 2000 years, the economy is still healthy.