Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Anyone Ready for the New Fed Coin?
>
Reply to Thread
Message:
<p>[QUOTE="yakpoo, post: 7773160, member: 18157"]From the links you posted above...</p><p><br /></p><p>"<b>Additionally, legal tender can only be used in regard to paying off debts.</b> The purpose and function of legal tender is for courts to determine whether it is a satisfactory payment for monetary debt. Each jurisdiction 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 debt. Although the original creditor who is owed money is not necessarily obligated to accept the tendered payment, <b>the specific act of tendering the payment absolves the debt.</b>"</p><p><br /></p><p><a href="https://www.law.cornell.edu/wex/legal_tender" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.law.cornell.edu/wex/legal_tender" rel="nofollow">https://www.law.cornell.edu/wex/legal_tender</a></p><p><br /></p><p><br /></p><p>"This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor."</p><p><br /></p><p><a href="https://www.federalreserve.gov/faqs/currency_12772.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.federalreserve.gov/faqs/currency_12772.htm" rel="nofollow">https://www.federalreserve.gov/faqs/currency_12772.htm</a></p><p><br /></p><p>Keep in mind that checks, credit cards, etc are NOT legal tender. They represent a "promise" of legal tender, but are not, in themselves, legal tender. Limits on legal tender are things like not allowing debts greater than $5 to be paid with pennies.[/QUOTE]</p><p><br /></p>
[QUOTE="yakpoo, post: 7773160, member: 18157"]From the links you posted above... "[B]Additionally, legal tender can only be used in regard to paying off debts.[/B] The purpose and function of legal tender is for courts to determine whether it is a satisfactory payment for monetary debt. Each jurisdiction 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 debt. Although the original creditor who is owed money is not necessarily obligated to accept the tendered payment, [B]the specific act of tendering the payment absolves the debt.[/B]" [URL]https://www.law.cornell.edu/wex/legal_tender[/URL] "This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor." [URL]https://www.federalreserve.gov/faqs/currency_12772.htm[/URL] Keep in mind that checks, credit cards, etc are NOT legal tender. They represent a "promise" of legal tender, but are not, in themselves, legal tender. Limits on legal tender are things like not allowing debts greater than $5 to be paid with pennies.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Anyone Ready for the New Fed Coin?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...