All moneys which, if offered, legally satisfy a debt are a Legal Tender.
The Constitution gave Congress the power to coin money and it forbade the states to make anything but gold and silver legal tender in the payment of debts.
If men who were identified with them could be appointed, the decision on the "Legal Tender Act" could be reversed, and they could save from ten to fifteen millions of dollars on every hundred million of dollars due from them.
A question of the greatest importance to these corporations was the construction to be given to the statutes of the United States, and especially the "Legal Tender Act.
This was followed by other acts increasing the amounts of legal tender issues.
All three recognized each others' gold coinage as well as token coins as legal tender.
Both maintain their idiosyncratic currencies - but these are at parity and serve as legal tender in both countries since 1921.
Wheat and live stock, at government prices, to be considered a legal tender.
Also five pounds, and not above, to be considered a legal tender.
No sum exceeding five pounds, in the copper coin, was to be considered as a legal tender; and the exportation or importation of copper coin above that amount, was prohibited under a penalty of thrice its value.
Similarly, bronze coin is a legal tender only up to the amount of one shilling in all.
Silver coin is a legal tender only to the amount of forty shillings--that is, no creditor can be obliged to receive more than forty shillings in a single payment.
These notes were not redeemable on demand, but to secure their free circulation they were made a "legal tender" for all purposes except the payment of duties and of the interest on the public debt.
Lee indicates that he is in favor of making Treasury notes a legal tender.
Neither did a bill, making Confederate notes a legal tender--so there will be a still greater depreciation.
The depreciation that has taken place in nearly every case where government notes have been issued, the fiat-theorists declare to be due to a mild enforcement of the law of legal tender.
The interference of the state which issues paper money as legal tender―and we are treating of paper money of that kind only―seems to do away with the economic law.
Smith, "gold was not considered as a legal tenderfor a long time after it was coined into money.
In King William's reign gold was not a legal tender, it passed only at a conventional value.
These notes are also a legal tender, to the banks that issue them, in payment of the notes discounted; that is, in payment of the notes given by the borrowers to the banks.
If, on the other hand, the notes had been made universal legal tender, but only encashable at Presidency towns, there would undoubtedly have been a premium on coin at certain times of the year.
Paragraph 54 of their Report runs as follows:— We are in favour of making the British sovereign a legal tender and a current coin in India.
The limitation of the areas of legal tender and of the offices where the notes were encashable on demand greatly restricted the popularity of the notes.
The bullion reserve is no longer held solely with the object of securing the ability to meet the obligation to cash notes in legal tender (rupees or gold) on demand.
The above list will hopefully provide you with a few useful examples demonstrating the appropriate usage of "legal tender" in a variety of sentences. We hope that you will now be able to make sentences using this group of words.
