Legal tender

Definition of Legal tender

The act of tendering in the performance of a contract or satisfaction of a claim that which the law prescribes or permits, and at such time and place as the law prescribes or permits.
That currency, or money, which the law authorizes a debtor to tender and requires a creditor to receive. It differs in different countries.
See under Legal.

See also: Legal Legal Tender

Related Words

and pence, cash, circulating medium, coinage, coined liberty, cold cash, currency, dollars, emergency money, filthy lucre, fractional currency, gold, hard cash, hard currency, lucre, mammon, managed currency, medium of exchange, mintage, money, necessity money, pelf, postage currency, postal currency, pounds, scrip, shillings, silver, soft currency, specie, sterling, the almighty dollar, the wherewith, the wherewithal
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