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1. Dictionary

   Le·gal ten·der

   /ˈlēɡəl ˈtendər/

   

   noun

   • 1. coins or banknotes that must be accepted if offered in payment of a debt.

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2. People also ask

   What is legal tender?

   • Legal tender is anything 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: Definition, Economic Functions, Examples - Investopedia

   www.investopedia.com/terms/l/legal-tender.asp

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   Is the US dollar a legal tender?

   • Currently, the U.S. dollar functions as money and legal tender in the RMI and will continue to do so alongside the new legal tender when the government begins issuing sovereigns. Legal tender describes any official medium of payment recognized by law that can be used to extinguish a public or private debt or meet a financial obligation.

   Legal Tender: Definition, Economic Functions, Examples - Investopedia

   www.investopedia.com/terms/l/legal-tender.asp

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   Which currency is considered legal tender?

   • Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency.

   Legal tender - Wikipedia

   en.wikipedia.org/wiki/Legal_tender

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   What if there were no legal tender laws?

   • In the absence of legal tender laws, Gresham's Law would make monetary policy, seigniorage, currency manipulation, and fiduciary media issuance much more difficult as good money tends to drive out bad money in that case.

   Legal Tender: Definition, Economic Functions, Examples - Investopedia

   www.investopedia.com/terms/l/legal-tender.asp

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3. www.investopedia.com › terms › lLegal Tender: Definition, Economic Functions, Examples

   www.investopedia.com › terms › l

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   Jun 13, 2021 · Legal tender is the officially recognized money within a given political jurisdiction. Learn how legal tender serves the functions of money, how it is established by law, and how it differs from cryptocurrencies and other forms of money.

4. www.law.cornell.edu › wex › legal_tenderlegal tender | Wex | US Law | LII / Legal Information Institute

   www.law.cornell.edu › wex › legal_tender

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   Legal tender is any U.S. coins, currency, or notes that can be used to pay off debts. Learn how legal tender works, what it includes and excludes, and how it differs from cash.

5. en.wikipedia.org › wiki › Legal_tenderLegal tender - Wikipedia

   en.wikipedia.org › wiki › Legal_tender

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   Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. [1] . Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt.

6. www.merriam-webster.com › dictionary › legal tenderLegal tender Definition & Meaning - Merriam-Webster

   www.merriam-webster.com › dictionary › legal tender

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   Legal tender is money that is legally valid for the payment of debts and that must be accepted for that purpose when offered. Learn the synonyms, history, and usage of this term with examples from various sources.

7. Videos

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     investopedia.com

     Legal Tender: Definition, Economic Functions, Examples

     Dec 31, 2008

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     Definition of A Tender | Purpose of Government Tenders | What is a Tender | Quick Lesson Video

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     Legal tender — what is LEGAL TENDER meaning

     May 3, 2023

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8. www.thebalancemoney.com › what-is-legal-tender-5198874What Is Legal Tender? - The Balance

   www.thebalancemoney.com › what-is-legal-tender-5198874

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   Nov 22, 2021 · Learn the definition and examples of legal tender, the currency that creditors must accept. Find out how legal tender works and what it means for investors and business owners.

9. www.bankofengland.co.uk › what-is-legal-tenderWhat is legal tender? | Bank of England

   www.bankofengland.co.uk › what-is-legal-tender

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   Legal tender means you can't be sued for failing to repay a debt in that form. In the UK, coins and Bank of England notes are legal tender in England and Wales, but not in Scotland or Northern Ireland.

10. dictionary.cambridge.org › english › legal-tenderLEGAL TENDER | English meaning - Cambridge Dictionary

    dictionary.cambridge.org › english › legal-tender

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    Legal tender is the official money used in a country that people must accept for debts and taxes. Learn more about the meaning, history and usage of legal tender with examples from the Cambridge Dictionary.