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<p>[QUOTE=&quot;DrHenley, post: 1710880, member: 50741&quot;]I&#039;m not a lawyer but I play one online...<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p>My understanding is this:</p><p><br /></p><p>By law, legal tender is only required to be accepted in paying debts.&nbsp; So if you owe the bank money, they have to accept any form of legal tender for the repayment of the debt.&nbsp; Cashing in or depositing money is not debt repayment.&nbsp; A business can choose what form of payment they will accept in advance.&nbsp; In other words, they can choose whether to do business with you or not based on what you offer as payment.&nbsp; Once you owe them money, they have already decided to do business with you and they can&#039;t choose not to accept legal tender.</p><p><br /></p><p>Interestingly, if you go to a restaurant and pay up front, they can choose what form of payment to accept, and refuse to accept legal tender.&nbsp; If you eat first and then pay, it is a debt and the restaurant has to accept any form of legal tender.</p><p><br /></p><p>Here is the relevant section of Canada&#039;s Currency Act:</p><p><br /></p><p><br /></p><ul> <li><b>.</b> (1) A coin is current for the amount of its denomination in the currency of Canada if it was issued under the authority of<ul> <li>(<i>a</i>) the <a href="http://laws-lois.justice.gc.ca/eng/acts/R-9" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://laws-lois.justice.gc.ca/eng/acts/R-9" rel="nofollow">Royal Canadian Mint Act</a>; or</li> <li>(<i>b</i>) the Crown in any province of Canada before it became part of Canada and if the coin was, immediately before October 15, 1952, current and legal tender in Canada.</li> </ul></li> <li><b>Marginal note: Defaced coins not current</b><br /> <br /> (2) No coin that is bent, mutilated or defaced, or that has been reduced in weight otherwise than by abrasion through ordinary use, shall pass current.</li> </ul><p>[/QUOTE]</p><p><br /></p>

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