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- DictionaryLe·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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The purpose and function of legal tender is for courts to determine whether it is a satisfactory payment for monetary debt. Each jurisdiction can define its specific limits of what is legal tender but generally it is anything when offered (tendered) and accepted in order to pay off the debt.
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.
Nov 22, 2021 · Legal tender laws establish what currency must be accepted in the payment of debts. In most countries, the national currency is legal tender. The most notable exception is the euro in European Union countries.
Legal tender definition: currency that may be lawfully tendered in payment of a debt, such as paper money, Federal Reserve notes, or coins.. See examples of LEGAL TENDER used in a sentence.
LEGAL TENDER | English meaning - Cambridge Dictionary. Meaning of legal tender in English. legal tender. noun [ U ] uk / ˌliː.ɡ ə l ˈten.də r/ us / ˌliː.ɡ ə l ˈten.dɚ / Add to word list. the money that can be officially used in a country. SMART Vocabulary: related words and phrases. Payment methods. anti-kickback. ATM card. automatic withdrawal.
LEGAL TENDER definition | Cambridge English Dictionary. Meaning of legal tender in English. legal tender. noun [ U ] us/ˌliː.ɡəl ˈten.dɚ/uk/ˌliː.ɡəl ˈten.dər/ Add to word listAdd to word list. the money that can be officially used in a country. SMART Vocabulary: related words and phrases. Payment methods. anti-kickback. ATM card.
legal tender. See synonyms for legal tender on Thesaurus.com. noun. currency that may be lawfully tendered in payment of a debt, such as paper money, Federal Reserve notes, or coins. Recommended videos.
