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  1. Dictionary
    legal tender

    noun

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

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

    Jun 13, 2021 · 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...

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

    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.

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

    What’s classed as legal tender varies throughout the UK. In England and Wales, it’s Royal Mint coins and Bank of England notes. In Scotland and Northern Ireland it’s only Royal Mint coins and not banknotes. There are also some restrictions when using small coins.

  5. dictionary.cambridge.org › dictionary › englishLEGAL TENDER | English meaning - Cambridge Dictionary

    LEGAL TENDER definition: 1. the money that can be officially used in a country 2. the money that can be officially used in a…. Learn more.

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

    The meaning of LEGAL TENDER is money that is legally valid for the payment of debts and that must be accepted for that purpose when offered. How to use legal tender in a sentence.

  7. www.supermoney.com › encyclopedia › legal-tenderLegal Tender: Definition, Functions, and Real-World Examples

    Apr 30, 2024 · Legal tender is essentially the official currency of a specific political jurisdiction, recognized and accepted by both individuals and institutions within that jurisdiction. This currency is used to facilitate transactions, pay off debts, and conduct various financial activities.

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

    Aug 26, 2021 · Legal tender laws dictate what currency must be accepted by creditors. Read on to learn how it works and what it means for investors and business owners.