legal tender

n. Currency, such as coin and paper money, declared by law to be valid and sufficient for the payment of debts.

legal tender

n (Currencies) currency in specified denominations that a creditor must by law accept in redemption of a debt

le′gal ten′der

n. currency that may be lawfully tendered in payment of a debt, such as paper money or coins. [1730–40]

Thesaurus

Noun

legal tender - something that can be used as an official medium of paymenttender, stampmedium of exchange, monetary system - anything that is generally accepted as a standard of value and a measure of wealth in a particular country or regionfood stamp - a government-issued stamp that can be used in exchange for food

legal tender

noun currency, money, medium, payment, specie When did the note cease to be legal tender?

Translations

legalemoneta a corso legalevaluta legale

Legal Tender

All U.S. coins and currencies—regardless of when coined or issued—including (in terms of the federal reserve System) Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations that are used for all debts, public and private, public charges, taxes, duties, and dues.

legal tender

n. all money issued by the government.

legal tender

Legal Tender

Anything that a jurisdiction has declared to be money. Historically, legal tender currency has been based on something like gold or silver; however, most money is now fiat money. That is, fiat money is that which has been declared to be legal tender by a government and would not be regarded as such without government backing. Legal tender may be used to pay a debt. In general, a merchant who does not accept legal tender currency has the debt canceled; that is, one is required to accept the legal tender or nothing at all.

legal tender

that part of a country's MONEY SUPPLY which, in the eyes of the law, is totally acceptable in discharge of a payment or debt. Coins and banknotes (CURRENCY) issued by the government fulfil this requirement. By contrast, a dealer or creditor is within his legal rights to refuse to accept as payment for a purchase or repayment of a debt a cheque drawn against a bank account.

legal tender

that part of a country's MONEY SUPPLY that is, in the eyes of the law, totally acceptable in payment for a purchase of a good or service or repayment of a debt. CURRENCY (BANK NOTES and COINS) issued by the government fulfil this requirement. By contrast, a trader is within his legal rights to refuse to accept as payment a cheque drawn against a BANK DEPOSIT. See MINT.

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le′gal ten′der

legal tender

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Legal Tender

Legal Tender

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Legal Tender

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Synonyms for legal tender

noun currency

Synonyms

Synonyms for legal tender

noun something that can be used as an official medium of payment

Synonyms

Related Words