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> In fact, it is illegal for him not to accept the national currency. What country are you referencing? It can't be the US. https://www.federalreserve.gov/fa
by IncRnd 9y ago
> In fact, it is illegal for him not to accept the national currency.
What country are you referencing? It can't be the US.
https://www.federalreserve.gov/faqs/currency_12772.htm https://www.federalreserve.gov/faqs/currency_12772.htm
Is it legal for a business in the United States to refuse cash as a form of payment?
Section 31 U.S.C. 5103, entitled "Legal tender," states:
"United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."
This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.
- deleted 9y ago[deleted]
- gamblor956 9y agoIt's tricky, but this is generally interpreted to mean that while a business can choose not to accept cash/USD up-front for payment, they must accept USD to extinguish any debts (i.e., payment after the fact). This is because a non-standard form of payment must be agreed upon prior to the sale/service at issue.
- IncRnd 9y agoThat's exactly what it says. USD must be accepted for debts only.