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Topic: Legal tender

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	Scotland Guide - General information - Currency and legal tender
		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.
		The definition of legal tender is something which is acceptable as payment of a debt.
	www.siliconglen.com /Scotland/1_7.html (528 words)

	Legal tender - Wikipedia, the free encyclopedia
		Legal tender or forced tender is payment that cannot be refused in settlement of a debt by virtue of law.
		Legal tender is a concept that is frequently misunderstood: this is often a result of differing legal definitions in different jurisdictions.
		Scottish and Northern Ireland banknotes, and Jersey, Guernsey, Manx and Gibraltar coinage and banknotes are not legal tender in England and Wales.
	en.wikipedia.org /wiki/Legal_tender (2877 words)

	Encyclopedia topic: Legal tender (Site not responding. Last check: 2007-09-23)
		Legal tender is a concept that is frequently misunderstood: this is often a result of differing legal definitions in different jurisdiction (In law; the territory within which power can be exercised) s.
		As legal tender can be refused until a person is in debt, vending machine (A slot machine for selling goods) s and transport staff do not have to accept the largest denomination of banknote for a single bus fare or bar of chocolate, and even shopkeepers can reject large banknotes.
		According to the, the for legal tender in Australia (A nation occupying the whole of the Australian continent; aboriginal tribes are thought to have migrated from southeastern Asia 20,000 years ago; first Europeans were British convicts sent there as a penal colony) is somewhat unclear.
	www.absoluteastronomy.com /encyclopedia/l/le/legal_tender.htm (1914 words)

	Talk:Legal tender - Wikipedia, the free encyclopedia
		Legal tender laws were originally known as "Forced Tender".
		There is a concept of legal tender in Scotland.
		I've misunderstood my sources; it is not that legal tender does not exist at all, it is just that reasonable settlements must be accepted as well.
	en.wikipedia.org /wiki/Talk:Legal_tender (989 words)

	The Illegality Legal Tender (Site not responding. Last check: 2007-09-23)
		Since the declaration of legal tender was forbidden to states and was not delegated to Congress, the acceptability of a currency was to be determined freely in the marketplace.
		In arguing for legal tender, Strong contended that the necessity of the legislation gave it merit.
		Legal tender, therefore, was a right which was inherent in the sovereignty of all nations.
	www.libertyhaven.com /regulationandpropertyrights/bankingmoneyorfinance/illegalitylegal.shtml (3183 words)

	Urban Legends Reference Pages: Business (Penny Whys)
		I can't recall how many times he solemnly intoned that "Pennies are not legal tender in quantities greater than 100" and therefore merchants were "legally" allowed to refuse any offer of payment that included more than one hundred one-cent coins (and, presumably, could not "legally" refuse payment offered in any other form of legal tender).
		However, legal tender is the default method of payment assumed in contractual agreements involving payments for goods or services unless otherwise specified.
		However, even in cases where legal tender has been agreed to as a form of payment, private businesses are still free to specify which forms of legal tender they will accept.
	www.snopes.com /business/money/pennies.asp (558 words)

	Legal Tender
		Legal tender meant the law of the colony required a creditor to accept legal tender notes in payment of a debt that had been previously incurred.
		Legal tender status was not considered in the legislation for the earliest printed emissions but it appears to have become rather common by the 1720's.
		However, sometimes legal tender status was not desired and was withheld from issues - even after the colonists had broken from British authority.
	www.coins.nd.edu /ColCurrency/CurrencyIntros/IntroLegalTender.html (612 words)

	RBA: Legal Tender
		The Concise Oxford Dictionary defines legal tender as "currency that cannot legally be refused in payment of debt (usually up to a limited amount for baser coins, etc.)".
		It is the Bank's understanding that, although Australian currency has legal tender status, it does not necessarily have to be used in transactions.
		However, a refusal to accept legal tender in payment of an existing debt, where no other means of payment/settlement has been specified in advance, conceivably could have consequences in legal proceedings, i.e.
	www.rba.gov.au /CurrencyNotes/LegalFramework/legal_tender.html (310 words)

	Encyclopedia: Legal tender
		Typical cancelled personal cheque as used in the U.S. A cheque (CwE) or check (AmE), thought to have developed from Persian Ú†Ùƒ chek, is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker/depositor...
		A vending machine is a machine that dispenses merchandise when a customer deposits money, validated by a currency detector, sufficient to purchase the desired item (as opposed to a shop, where the presence of personnel is required for every purchase).
		Toms Diner, a restaurant in New York made familiar by Suzanne Vega and the television sitcom Seinfeld A restaurant is an establishment that serves prepared food and beverages to be consumed on the premises.
	www.nationmaster.com /encyclopedia/Legal-tender (700 words)

	Bring Back Honest Money
		Legal tender laws disadvantage ordinary citizens by forcing them to use money that is vulnerable to vast depreciation.
		Legal tender laws thus enable the redistribution of wealth from those who produce it, mostly ordinary working people, to those who create and move around our irredeemable paper-ticket electronic money which is, in essence, just scrip.
		Repeal of legal tender laws will help restore constitutional government and protect the people’s right to a medium of exchange chosen by the market, thereby protecting their current purchasing power as well as their pensions, savings, and other promises of future payment.
	www.house.gov /paul/congrec/congrec2003/cr072503.htm (1031 words)

	Elbridge Gerry Spaulding, History of the Legal Tender Paper Money
		The tender was made in January, 1865, when a dollar in coin was equal to two dollars and twenty-five cents in legal tender notes, and, the tender being refused, action was commenced to compel the cancellation of the mortgage.
		In the absence of any specific control for the payment of coin, legal tender notes may be a sufficient tender, but it is clear to the Court that express contracts for the payment of coined dollars can only be satisfied by the payment of coined dollars.
		The legal tender notes were paid out and distributed to the army and navy and for supplies and material of war.
	www.heritech.com /yamaguchy/spaulding/spaulding_05.html (8933 words)

	Gold standard - Wikipedia, the free encyclopedia
		However, more generally accepted is that a full gold standard requires that there be one source of notes and legal tender, and that this source is backed by convertibility to gold.
		In 1833, however, the Bank of England notes were made legal tender, and redemption by other banks was discouraged.
		Gold and silver coins were legal tender, including the Spanish real, a silver coin struck in the Western Hemisphere.
	en.wikipedia.org /wiki/Gold_Standard (7682 words)

	U.S. Treasury - FAQs: Legal Tender Status of currency
		Federal Reserve notes are legal tender currency notes.
		In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy.
		United States Notes (characterized by a red seal and serial number) were the first national currency, authorized by the Legal Tender Act of 1862 and began circulating during the Civil War.
	www.treas.gov /education/faq/currency/legal-tender.shtml (859 words)

	Legal Tender (Site not responding. Last check: 2007-09-23)
		Officially minted coins which may be submitted as ¥legal tender' as a medium of exchange for any payment for their face value.
		Under the gold standard a coin such as the Sovereign was legal tender payment for £1, its face value, or a US Double Eagle for $20.
		On modern legal tender coins the declared face value is normally less than their gold content; the US Eagle one-ounce bullion coin has a face value of $50 but it contains more than six times that value in gold so it is not likely to be used in payment for a $50 charge.
	www.pamp.com /gold_c/Info_site/in_glos/in_glos_legaltender.html (132 words)

	FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code
		The power of making the notes of the United States a legal tender in payment of private debts, being included in the power to borrow money and to provide a national currency, is not defeated or restricted by the fact that its exercise may affect the value of private contracts.
		The argument presented by the advocates of legal tender is, in substance, this: The object of borrowing is to raise funds, the addition of the quality of legal tender to the notes of the government will induce parties to take them, and funds will thereby be more readily loaned.
		Coins of such metals are necessarily a legal tender to the amount of their respective values, without any legislative enactment, and the statute of the United States providing that they shall be such tender is only declaratory of their effect when offered in payment.
	caselaw.lp.findlaw.com /cgi-bin/getcase.pl?court=us&vol=110&invol=421 (8693 words)

	Legal Tender
		With legal tender, there is no worry, because the presses can and will run, to pay everyone the dollars they are dueregardless of their value.
		The debasing of a currency, (legal tender), is in 100% of the cases, theft from the citizen, and glorifying the government and politicians who issue it.
		Banks loan legal tender they don't have on deposit, thereby increasing the money supply, and now that foreign nations have slowed appreciably in buying US debt, the government is buying its own debt, thereby further increasing the supply of legal tender.
	www.gold-eagle.com /gold_digest_04/stott120204.html (1389 words)

	Bank of England\|Publications\|News\|2003\|Withdrawal of Dickens £10 Note
		All Bank of England notes from which legal tender status has been withdrawn remain payable at face value forever at the Bank of England in London.
		Simply, it means that if a debtor pays in legal tender the exact amount he or she owes under the terms of a contract, he or she has a good defence in law, if they are subsequently sued for non-payment of the debt.
		In practice the concept of 'legal tender' does not govern the acceptability of banknotes as a means of payment.
	www.bankofengland.co.uk /publications/news/2003/082.htm (390 words)

	Thrashing the Constitution:
		Because the legal framework in any society is going to have a controlling, a directive, at least an important influence on what happens economically.
		This is legal tender for all debts public and private.” You don’t have to be a farmer to understand the meaning of this little demonstration.
		He wrote, “The arguments in favor of the constitutionality of legal tender paper currency tend directly to break down the barriers which separate a government of limited powers from a government resting in the unrestrained will of Congress.
	www.fame.org /HTM/Edwin%20Vieira%20Speech%20to%20the%20Rotary%20Club%20of%20NY%203-25-03.htm (3707 words)

	Legal Tender and the Civil War
		And to ensure that the inflation did not interfere with his ability to continue issuing an ever-increasing supply of notes, he resorted to the final act of monetary tyranny: he made the notes legal tender for all debts, public and private.
		There are unchangeable principles of right and morality, without which society would be impossible, and men would be but wild beasts preying upon each other, so there are fundamental principles of eternal justice, upon the existence of which all constitutional government is founded, and without which government would be an intolerable and hateful tyranny.
		There have been times within the memory of all of us when the legal tender notes of the United States were not exchangeable for more than one-half of their nominal value.
	www.fff.org /freedom/1100a.asp (2157 words)

	Legal Tender
		That’s because the R2K Legal Network — a team of civil rights attorneys representing the jailed protesters — says it has collected statements detailing police brutality from more than 180 of its clients.
		Most cases yet to be filed are likely to seek nominal sums of money but, nonetheless, the city’s legal fees could be astronomical.
		Hundreds of activists charged with misdemeanors for crimes that normally render summary offenses — the legal equivalent of a parking ticket — are also considering bringing a suit against the city.
	www.citypaper.net /articles/081700/cb.hallmon1.shtml (427 words)

	Liberty Silver Money (Site not responding. Last check: 2007-09-23)
		Bernard von NotHaus, of Honolulu, Hawaii, has requested that I provide you with a legal opinion relative to the issuance, negotiability and use of a paper instrument titled "American Patriot Currency" (Patriot) designed by NORFED (National Organization for the Repeal of the Federal Reserve Act) for sale to the general public.
		The manner of Seller’s tender of delivery requires that the Seller put and hold the conforming goods at Buyers’ disposition and give the Buyer any notifications reasonably necessary to enable the Buyer to take delivery.
		The Patriot is not purporting to replace or confuse the present legal tender in the United States.
	www.libertydollar.org /html/legal.asp (1954 words)

	What Has Government Done to Our Money? Gresham's Law and Coinage
		By a device known as legal tender laws.Money is used for payment of past debts, as well as for present "cash" transactions.
		When only the original gold or silver was designated "legal tender," people considered it harmless, but they should have realized that a dangerous precedent had been set for government control of money.
		When legal tender laws enshrine an overvalued money, they have another effect; they favor debtors at the expense of creditors.
	www.mises.org /money/3s5.asp (1125 words)

	Legal Tender Cases -- Encyclopædia Britannica
		To finance the Civil War, the federal government in 1862 passed the Legal Tender Act, authorizing the creation of paper money not redeemable in gold or silver.
		More results on "Legal Tender Cases" when you join.
		legal cases that reached U.S. Supreme Court in 1877; upheld state laws protecting farmers and agricultural workers against monopolistic railroads and grain elevators; cases stemmed from movements started after American Civil War by Oliver Hudson Kelly; local units called Granges held meetings, urged legislatures to fix maximum rates charged by railroads and grain-storage...
	www.britannica.com /eb/article-9047626 (623 words)

	Paradigm : from legal tender to virtual vouchers
		One of the first known cases is that of the Roman emperor Nero who reduced the gold content of the aureus and the silver content of the denarius, and was later imitated by other emperors because this was the easiest way, for the state, to pay for ever growing expenditures.
		The legislation introduced between 1862 and 1865 was aimed at a compulsory absorption of legal tender (the "greenbacks") for financing the federal debt, allowing for the continuation of the war.
		In the presence of a monopolistic central bank and a compulsory legal tender those adjustments were/are neither practiced (because of political and financial interests antithetic to the interests of producers and consumers) nor practicable (due to the enormous/insoluble requirements in terms of information acquisition and processing by a top decisional centre).
	www.polyarchy.org /paradigm/english/money.html (8871 words)

	Legal Tender US Currency
		There are only 37 in the census with only 12 uncirculated This note has comments on the reverse of the holder, "Exceptional Paper Quality".
		1901 $10 Legal Tender note graded XF 45 by PMG.
		WOW a stunning 1901 $10 Legal Tender Buffalo graded GEM 66 BY PMG.
	www.keycurrency.com /tender (292 words)

	Legal Tender
		Legal tender is a form of payment, defined by law, which must be accepted by creditors as payment for debts.
		The greenbacks issued during the Civil War were designated legal tender in the original legislation in 1862.
		Controversy developed when it became clear that the notes would continue to circulate after the war was concluded and that a disparity had developed between the value of a gold dollar and a greenback dollar.
	www.u-s-history.com /pages/h172.html (249 words)

	Reader's Companion to American History - -LEGAL TENDER CASES (Site not responding. Last check: 2007-09-23)
		law impairing the obligation of contracts." Further, an act compelling holders of contracts that called for payment in gold or silver to accept as legal tender "mere promises to pay dollars" was unconstitutional because it deprived "such persons of property without due process of law" under the Fifth Amendment.
		In 1871, the Court, with two new justices on the bench, reversed itself with the legal tender cases, Knox v.
		Davis, and declared the Legal Tender Acts constitutional.
	college.hmco.com /history/readerscomp/rcah/html/ah_052400_legaltenderc.htm (330 words)

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