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  Encyclopedia of Keywords > Economics > Money > Currency > Coins > Legal Tender   Michael Charnine

Keywords and Sections
FULL LEGAL TENDER
SOLE LEGAL TENDER
LEGAL TENDER LAWS
TERM
LEGAL TERM
LUXEMBOURG
COURT
SOUTH CAROLINA
SPECIE
SOUTH AFRICA
CREATION
EXCHANGE
AMOUNTS
FIXED
AUGUST
JANUARY
GIBRALTAR
CITIZENS
EUROPEAN UNION
COOK ISLANDERS
COOK ISLANDS
ECONOMY
FREE MARKET
EXTREMELY RARE
UNITED KINGDOM
ENGLAND
COPPER
CONSTITUTION
ADOPTION
SINGAPORE
PART
MONTENEGRO
LEGAL DEFINITION
JURISDICTIONS
INDIA
CONGRESS
OBVERSE
LAW
COUNTRIES
COUNTRY
PANAMA
RAND
NAMIBIA
MARCH
FEBRUARY 28
PLACE
Review of Short Phrases and Links

    This Review contains major "Legal Tender"- related terms, short phrases and links grouped together in the form of Encyclopedia article.

Definitions

  1. Legal tender is a concept that is frequently misunderstood: this is often a result of differing legal definitions in different jurisdictions. (Web site)
  2. Legal tender is a status which may be conferred on certain examples of money, which may depend on circumstances including the amount of money.
  3. Legal tender is the Hong Kong dollar (HK$). There are 100 cents in a dollar.
  4. Legal tender is an objective valuation that is set by law. (Web site)
  5. Legal tender is the Bermuda dollar (BD$), which is divided into 100 cents. (Web site)

Full Legal Tender

  1. Also, all gold and silver coins were made full legal tender, meaning they had to be accepted in payment of a monetary obligation in any amount.

Sole Legal Tender

  1. The government invested 70 billion dollars to boost East Germany's battered economy, and on July 1, the West German mark became the sole legal tender.
  2. The Estonian kroon was declared the sole legal tender in circulation and Eesti Pank the only regulator of monetary relations in Estonia.

Legal Tender Laws

  1. Because of legal tender laws that force acceptance of the dollar, the Fed has absolute power over the currency.
  2. Legal tender laws currently favor government-issued money, putting private contracts in gold or silver at a distinct disadvantage.
  3. World War I could have come to an early end but for the legal tender laws. (Web site)

Term

  1. Because of its one dollar face value it is officially "legal tender" according to the constitutional definition of that term. (Web site)
  2. As the term is now widely used (and used in this article), it does not refer to currency which is legal tender but happens to only be used in a local area. (Web site)

Legal Term

  1. Meaning of legal tender as a legal term.

Luxembourg

  1. Belgian francs were legal tender inside Luxembourg, and Luxembourg francs were legal tender in Belgium. (Web site)

Court

  1. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender. (Web site)
  2. Lee, the Court ruled that this clause permitted Congress to emit bills and make them legal tender in satisfaction of debts. (Web site)

South Carolina

  1. This bill would allow "silver and gold" to once again be legal tender in South Carolina, as opposed to the paper bank notes of Federal Government debt. (Web site)
  2. South Carolina will no longer recognize U.S. currency as legal tender, if State Rep.

Specie

  1. Fiat Money - Money that is not backed by specie and is legal tender by decree. (Web site)

South Africa

  1. The coins have legal tender status in South Africa but are not actually intended to be used as currency.

Creation

  1. At the creation of the colony after the signing of the Treaty of Waitangi in 1840 there was no legal tender in New Zealand. (Web site)

Exchange

  1. The common medium of exchange is still decreed by the force of legal tender laws. (Web site)
  2. As of November 8 2004 the US dollar, the common currency of exchange for tourists in Cuba, is no longer legal tender. (Web site)

Amounts

  1. Australian notes are legal tender, as established by the Reserve Bank Act 1959 for all amounts. (Web site)

Fixed

  1. Since January 2001 the US dollar is also become legal tender in El Savalador; the exchange rate was then fixed at 8.75 colones per US dollar. (Web site)
  2. Involved in the issue of "fixed" exchange, are the ideas of legal tender and the concept of purchasing power. (Web site)

August

  1. In July, circulation of the talonas was stopped and on August 1, 1993, the litas became the only legal tender. (Web site)

January

  1. From January 1 1876 onwards, the Mark became the only legal tender.

Gibraltar

  1. These banknotes are legal tender in Gibraltar alongside Bank of England banknotes. (Web site)

Citizens

  1. Historically, legal tender laws have been used by governments to force their citizens to accept debased and devalued currency. (Web site)

European Union

  1. February 28 – The ex-currencies of all euro -using nations cease to be legal tender in the European Union.

Cook Islanders

  1. Cook Islanders are showing a preference for New Zealand banknotes, although the Cook Islands notes remain legal tender. (Web site)

Cook Islands

  1. The Cook Islands have issued both banknotes and coins (CKD), primarily for numismatic purposes, though these have been legal tender in the islands. (Web site)

Economy

  1. Paper currency is still valid legal tender without the Silver Certificate, instead being backed simply by the strength of the U.S. economy. (Web site)

Free Market

  1. In a free market, whatever is determined to be the legal medium of payment (legal tender) first evolves as the common medium of exchange. (Web site)

Extremely Rare

  1. A $50 coin also exists and is legal tender, but it was not included in the 1996 issue; it is extremely rare and largely disliked by users.

United Kingdom

  1. On January 1, euro notes and coins became legal tender in all the European Union states, bar the United Kingdom, Denmark and Sweden. (Web site)

England

  1. Scottish and Northern Ireland banknotes, and Jersey, Guernsey, Manx and Gibraltar coinage and banknotes are not legal tender in England and Wales. (Web site)
  2. Sterling currency notes issued by the Bank of England are legal tender and are in circulation in Gibraltar alongside the local note issues. (Web site)
  3. In England, gold was not considered as a legal tender for a long time after it was coined into money. (Web site)

Copper

  1. Philippine minor coins of nickel and copper shall be legal tender in amounts not exceeding two pesos. (Web site)
  2. Copper is not at present a legal tender except in the change of the smaller silver coins. (Web site)

Constitution

  1. However, there is nothing in the Constitution that grants the Congress the power to enact legal tender laws.

Adoption

  1. In March 2000, Congress approved a series of structural reforms that also provided for the adoption of the US dollar as legal tender. (Web site)

Singapore

  1. The dollar is accepted as "customary tender" in Singapore according to the Currency Interchangeability Agreement,[ 1] although it is not legal tender there. (Web site)

Part

  1. Before World War I, Syria was part of the Ottoman empire and the Turkish lira was the legal tender.

Montenegro

  1. The Yugoslav Republic of Montenegro abandoned the Yugoslav dinar on Monday, making the German mark the only legal tender in the republic. (Web site)

Legal Definition

  1. The understanding of legal tender is intrinsically bound up with the difference between the legal definition of money and the economic definition of money. (Web site)

Jurisdictions

  1. Some jurisdictions may forbid or restrict payment made other than by legal tender. (Web site)

India

  1. In May 1938 the Bank issued Burma notes which were not legal tender in India. (Web site)

Congress

  1. This prompted Congress to revoke their legal tender status, and restrict their coinage to exportation demand only.
  2. On July 22, 1876, Congress removed the legal tender status on the coin.
  3. In a last-minute deal, Congress had made the coin a legal tender for domestic payments up to $5. (Web site)

Obverse

  1. Issued as legal tender under the Australian Currency Act 1965, the coin bears the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on its obverse.
  2. Issued as legal tender under the Australian Currency Act 1965, the coins depict Ian Rank-Broadley's effigy of Her Majesty Queen Elizabeth II on the obverse.

Law

  1. That means it passes at Law as money, being a legal tender, but the only interest it passes along is a mere demand or promise.
  2. By law, the refusal of a legal tender (offering) extinguishes the debt in the same way acceptance does.[ 20] At times in history (e.g.

Countries

  1. In this sense, the US Dollar exists as money in most countries of the world, even though it is legal tender within a limited number of countries.
  2. In some countries such as Peru and Uruguay, the USD is commonly accepted although not officially regarded as a legal tender.
  3. Both maintain their idiosyncratic currencies - but these are at parity and serve as legal tender in both countries since 1921.

Country

  1. The gold and silver coins of each country are legal tender throughout the union. (Web site)
  2. This is fiat money and it is a legal tender, which the citizens of the country are legally bound to accept as a medium of exchange.
  3. It was due to this monetary union that krone was introduced in Denmark and became the legal tender in the country. (Web site)

Panama

  1. Panama and El Salvador have declared US currency to be legal tender).

Rand

  1. It replaced the South African pound as legal tender, at the rate of two rand per pound or ten shillings to the rand.

Namibia

  1. In fact, the Rand remains legal tender in Namibia along with the Namibian Dollar at a ratio of 1:1.

March

  1. On January 1, 2002, the Greek drachma was officially replaced as the circulating currency by the euro, and it has not been legal tender since March 1, 2002.

February 28

  1. Old lira denominated currency ceased to be legal tender on February 28, 2002. (Web site)
  2. February 28 - The ex-currencies of all euro members officially (at EU -level) cease to be legal tender. (Web site)

Place

  1. The banknotes issued in its place were known as 法幣 (Pinyin: fǎbì) or " Legal Tender ". (Web site)

Categories

  1. Economics > Money > Currency > Coins
  2. Society > Economics > Money > Currency
  3. Economics > Money > Currency > Banknotes
  4. Notes
  5. Economics > Money > Currency > Dollar

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  Short phrases about "Legal Tender"
  Originally created: August 01, 2010.
  Links checked: July 21, 2013.
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