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<p>[QUOTE=&quot;ToughCOINS, post: 7773149, member: 20480&quot;]Following is from your Cornell citing (I’ve highlighted the operative language in red) . . . </p><blockquote><p><br /></p><p><font size="6"><b>legal tender</b></font></p><p><font size="5"><b>Primary tabs</b></font></p><p>Legal Tender refers to all U.S. coins and currency that issued by the government. U.S. Cash dollars are also a valid form of legal tender. Nonetheless, <a href="https://www.law.cornell.edu/wex/federal" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/federal" rel="nofollow">federal</a> <a href="https://www.law.cornell.edu/wex/statute" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/statute" rel="nofollow">statutes</a> do not require a <a href="https://www.law.cornell.edu/wex/seller" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/seller" rel="nofollow">seller</a> to accept cash as a form of legal tender for payment of goods or services that were rendered. Thus, <a href="https://www.law.cornell.edu/wex/business" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/business" rel="nofollow">businesses</a> may establish their own policies regarding whether they will accept cash as legal tender. Legal Tender also includes <a href="https://www.law.cornell.edu/uscode/text/12/chapter-3" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/uscode/text/12/chapter-3" rel="nofollow">Federal Reserve</a> notes as well as notes from <a href="https://www.law.cornell.edu/uscode/text/12/391" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/uscode/text/12/391" rel="nofollow">Federal Reserve Banks</a> and <a href="https://www.law.cornell.edu/uscode/text/26/581" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/uscode/text/26/581" rel="nofollow">national banking associations</a> for purposes of settling <a href="https://www.law.cornell.edu/wex/debt" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/debt" rel="nofollow">public and private debts</a>, <a href="https://www.law.cornell.edu/wex/duty" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/duty" rel="nofollow">duties</a>, <a href="https://www.law.cornell.edu/wex/due" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/due" rel="nofollow">dues</a>, and <a href="https://www.law.cornell.edu/wex/category/tax" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/category/tax" rel="nofollow">taxes</a>. Legal tender generally does not include <a href="https://www.law.cornell.edu/wex/check" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/check" rel="nofollow">personal checks</a>, credit cards, or other general forms of noncash payments. In some instances, foreign currency may be accepted as legal tender. Additionally, legal tender can only be used in regard to paying off debts.</p><p><br /></p><p>The purpose and function of legal tender is for <a href="https://www.law.cornell.edu/wex/court" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/court" rel="nofollow">courts</a> to determine whether it is a satisfactory payment for <a href="https://www.law.cornell.edu/wex/debt" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/debt" rel="nofollow">monetary debt</a>. Each <a href="https://www.law.cornell.edu/wex/jurisdiction" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/jurisdiction" rel="nofollow">jurisdiction</a> can define its specific limits of what is legal tender but generally it is anything when offered (tendered) and accepted in order to pay off the <a href="https://www.law.cornell.edu/wex/debt" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/debt" rel="nofollow">debt</a>. <span style="color: #ff0000">Although the original <a href="https://www.law.cornell.edu/wex/creditor" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/creditor" rel="nofollow">creditor</a> who is owed money is not necessarily obligated to accept the tendered payment, the specific act of tendering the payment absolves the <a href="https://www.law.cornell.edu/wex/debt" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/debt" rel="nofollow">debt</a>.</span></p><p><br /></p></blockquote><p>[/QUOTE]</p><p><br /></p>

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