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<p>[QUOTE=&quot;satootoko, post: 33900, member: 669&quot;]Well, I don&#039;t often do this on coin forums, but let&#039;s get technical with our legal terms.</p><p><br /></p><p>A &quot;debt&quot; is an existing obligation to pay money.&nbsp; An ordinary cash sale transaction does not involve &quot;debt&quot;.&nbsp; The exchange of the purchase price and the merchandise is simultaneous so neither the buyer nor the seller ever has an obligation to the other.&nbsp; Therefore, a seller can set whatever rules he wishes about what he will take in exchange for his goods.</p><p><br /></p><p>Regarding &quot;debt&quot;, the common-law rule followed in that part of the world which derives its legal system from England, is that a &quot;tender&quot; of payment stops the running of interest, whether or not it is accepted by the creditor; and once &quot;tender&quot; of payment has been made the creditor cannot take any action to collect the debt except to accept the &quot;tender&quot; (which, of course, must be kept available for delivery).&nbsp; In that context a &quot;tender&quot; is an offer of payment which the debtor is ready, willing <i>and able</i> to deliver.&nbsp; The presentation of U.S. currency to a creditor in the United States, is by statute a valid &quot;tender&quot;.</p><p><br /></p><p>Gadzooks - it&#039;s been about 40 years since I was teaching that stuff to law students taking a first year contracts course.<img src="http://64.91.226.227/images/emoticons/shades.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>

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