legal tender
Must accept this
Legal tender is currency that must be accepted for payment of debts by law.
In the United States, coins and paper money are legal tender, meaning creditors cannot refuse them: The store's "no cash" policy doesn't override legal tender laws for settling debts.
The term often appears in debates about whether businesses must accept cash or can require cards.
Paper currency notes
- coinsMetal money units
- cashReady spending funds
- paper moneyCurrency in bill form
- notesBrief written records
bills · coinage · specie · denominations · mint · circulation · fiat money · greenbacks
Sustained price level increase
- deflationSustained decrease in prices
- monetary policyCentral bank economic controls
- central bankNational currency management institution
- liquidityConvertibility to cash
exchange rate · purchasing power · fiat · money supply · currency manipulation · devaluation · revaluation · convertibility
Enacted written rule
- obligationRequired task or commitment
- debt settlementNegotiated partial repayment agreement
- enforceableAble to be upheld
- creditorOne owed money
debtor · payment · discharge of debt · regulation · counterfeiting · forgery · demonetization · compliance
Fulfilling a financial obligation
- settlementResolved dispute or colony
- exchangeMutual giving and receiving
- purchaseGoods obtained for payment
- acceptanceConsent to receive
refusal · debt payment · commerce · trade · vendor · merchant · buyer · seller
Printed denomination shown
- denominationNamed religious group
- par valueSecurity's nominal worth
- store of valueAsset that maintains worth
- medium of exchangeInstrument enabling trade transactions
fungibility · intrinsic value · nominal value · appreciation · depreciation · backing · redeemability · fiduciary
banknotes
Paper currency notes
- coinsMetal money units
- cashReady spending funds
- paper moneyCurrency in bill form
bills · notes · coinage · specie · denominations · mint · circulation · fiat money · greenbacks · treasury notes
inflation
Sustained price level increase
- deflationSustained decrease in prices
- monetary policyCentral bank economic controls
- central bankNational currency management institution
liquidity · exchange rate · purchasing power · fiat · money supply · currency manipulation · devaluation · revaluation · convertibility · reserve currency
statute
Enacted written rule
- obligationRequired task or commitment
- debt settlementNegotiated partial repayment agreement
- enforceableAble to be upheld
creditor · debtor · payment · discharge of debt · regulation · counterfeiting · forgery · demonetization · compliance
payment
Fulfilling a financial obligation
- settlementResolved dispute or colony
- exchangeMutual giving and receiving
- purchaseGoods obtained for payment
acceptance · refusal · debt payment · commerce · trade · vendor · merchant · buyer · seller · checkout
face value
Printed denomination shown
- denominationNamed religious group
- par valueSecurity's nominal worth
- store of valueAsset that maintains worth
medium of exchange · fungibility · intrinsic value · nominal value · appreciation · depreciation · backing · redeemability · fiduciary · trust
- currency typesreserve currency, hard currency, soft currency, fiat currency, gold standard
- monetary policyinflation, central banking, deflation, central bank, money supply
- currencydollar, euro, pound, yen, peso
- US currencydollar, dollar bills, penny, dollars, nickel
- banknotespaper money, dollar bill, banknote, euro note, currency notes
- cashbills, banknotes, greenbacks, paper money, change
legal tendercounterfeit money
Fraudulent imitation of currency
counterfeit currency · fake money · funny money · bogus bills · play money
legal tenderbarter
Direct goods-for-goods exchange
trade goods · commodity exchange · goods and services · scrip · cryptocurrency
tender, legal, illegal, legalize, legally, legislation, legality, legitimacy, legislator