Legal tender

Legal tender,

Definition of Legal tender:

  1. Legal tender is any thing recognized by law as a means to settle a public or private debt or meet a financial obligation, including tax payments, contracts, and legal fines or damages. The national currency is legal tender in practically every country. A creditor is legally obligated to accept legal tender toward repayment of a debt. Legal tender is established by a statute which specifies the thing to be used as legal tender and the institution that is authorized to produce and issue it to the public, such as the U.S. Treasury in the United States and the Royal Canadian Mint in Canada.

  2. In the United States, the recognized legal tender consists of Federal Reserve notes and coins. Creditors are required to accept them as payment offered to discharge a debt, however, except where prohibited by state law, private businesses may refuse to accept some or all forms of cash tender provided that a transaction has not already occurred and a debt has not been incurred by the customer.

  3. Denomination of a countrys currency that, by law, must be accepted as a medium for commercial exchange and payment for a money debt. While usually all denominations of the circulating paper money are legal tenders, the denomination and amount in coins acceptable as legal tender varies from country to country. Checks and postal orders are not legal tenders and are accepted only at the option of the creditor, lender, or seller. Also called lawful money.

  4. Coins or banknotes that must be accepted if offered in payment of a debt.

Synonyms of Legal tender

And pence, Cash, Circulating medium, Coinage, Coined liberty, Cold cash, Currency, Dollars, Emergency money, Filthy lucre, Fractional currency, Gold, Hard cash, Hard currency, Lucre, Mammon, Managed currency, Medium of exchange, Mintage, Money, Necessity money, Pelf, Postage currency, Postal currency, Pounds, Scrip, Shillings, Silver, Soft currency, Specie, Sterling, The almighty dollar, The wherewith, The wherewithal, Cash, Hard cash, Ready money

How to use Legal tender in a sentence?

  1. Legal tender is the legally recognized money within a given political jurisdiction.
  2. Its bank notes, which functioned much like todays paper currency, acted as legal tender in payment of U.S. debts.
  3. I explained to him that the legal tender was inescapable and had to be honored, which made the man really angry and upset with me.
  4. Although the United States government no longer prints some types of money, such as silver dollars, they are still legal tender and can be spent at any store.
  5. Legal tender serves the economic functions of money plus a few additional functions, such as making monetary policy and currency manipulation possible.
  6. The legal tender was able to be exchanged for goods and services in the region so we took advantage of its acceptance.
  7. Legal tender laws effectively prevent the use of anything other than the existing legal tender as money in the economy. .

Meaning of Legal tender & Legal tender Definition

Legal Tender,

What is The Definition of Legal Tender?

  1. The definition of Legal Tender is: Legal means of payment are legally recognized as a means of repaying public or private debts or fulfilling financial obligations in any way, including the payment of taxes, contracts and fines or damages. The local currency is a legal tender in most countries. The lender is required by law to accept legal tender to repay the loan. Legal tenders are defined by the laws that determine which legal tenders should be used and which entities have the authority to prepare and supply them to the public, such as the United States Department of the Treasury and the Monetary Department in the United States. Canada in Canada.

    • Legal means of payment are money that is legally recognized in some political jurisdiction.
    • Legal tender laws are effective in preventing the use of anything other than legal tender, such as money in the economy.
    • Legal tenders enable the financial economy as well as many additional functions, such as monetary policy and money laundering.

  2. In the language of the time, the term usually referred to coins or notes that were not withdrawn or embezzled by the Bank of England, therefore, they were valid. However, technically, the term UK means a form of currency. Which should be legally accepted as a means of payment by creditors. Fault. See detailed technical definition of legal tender.

Literal Meanings of Legal Tender

Legal:

Meanings of Legal:
  1. By, based on or affected by the law.

  2. Legally approved

  3. (Made of paper) measuring 8½ "by 14".

Sentences of Legal
  1. American legal system

  2. To claim that everything is fine

  3. Yellow legal stamp

Synonyms of Legal

legal, judiciary, juridical, judicatory, forensic, jurisdictive, lawful, legitimate, licit, within the law, legalized, valid

Tender:

Meanings of Tender:
  1. Show politeness and care or empathy.

  2. (Food) is easy to bite or not difficult to chew.

  3. (Body part) sensitive to pain

  4. Young, immature and weak.

  5. (From the boat) tilted or overturned in response to the wind.

  6. Present or display formally.

  7. Offer to perform a job, supply goods or buy land, shares or other assets at a fixed price.

  8. Ships were used to transport people and goods on and off ships.

  9. A car steam locomotive for transporting fuel and water.

  10. Someone who cares about another person, machine or place.

Sentences of Tender
  1. He is very kind and compassionate

  2. Soft green beans

  3. Smooth, pale skin on his arms

  4. At the age of five

  5. I hope the boat gets a little softer when the wind blows.

  6. He resigned as chief

  7. We bid for up to three additional frigates

  8. You can dock your own boat or board a harbor.

  9. That day, my fireman and I sprayed # 19, Old Grease and Grease, with a full supply of water and fuel.

  10. Alexi informed one of the motorcycle bidders

Synonyms of Tender

caring, kind, kindly, kind-hearted, soft-hearted, tender-hearted, compassionate, sympathetic, warm, warm-hearted, feeling, fatherly, motherly, maternal, gentle, mild, benevolent, generous, giving, humane, easily chewed, not tough