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“Legal tender for all debts public and private” used to mean something...

by niahmiah 7y ago

Chris2048 7y ago
Buying a taco isn't repaying a debt..
- CompelTechnic 7y ago
  To get the fully nuanced picture: -If you wander around to a grocery store bakery, and eat one of the donuts before getting to checkout, you have the right to settle your debt with cash. -Otherwise, the store can force you to pay with their preferred method, or else will return the merchandise to the shelves.
  - Chris2048 7y ago
    > and eat one of the donuts before getting to checkout I'm not sure you have a legal right to do this. I'm pretty sure consuming something that isn't your is actually theft.
    - CompelTechnic 7y ago
      Yeah, that's a good point. I mostly wanted to convey a payment after use of the product or service. A better example might be paying your mechanic after he finishes fixing your car.
miloignis 7y ago
As Chris2048 said, I believe the law draws a distinction between buying something and paying a debt. I've heard that, for instance, you can always use cash at a sit down resturant where you pay at the end because that's paying a debt, but if you order the food (or whatever) up front that's not a debt yet, so they don't have to accept cash. It's an interesting distinction that I only learned about recently, and I'm not sure I agree, but it seems to be the compromise we currently run off of.
ThrowawayR2 7y ago
> “Legal tender for all debts public and private” used to mean something... That's a myth. From the US Treasury Dept. (https://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx https://www.treasury.gov/resource-center/faqs/currency/pages...): "[31 U.S.C. 5103] means that all United States money as identified above are 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 for payment for goods and/or services."

“Legal tender for all debts public and private” used to mean something...

Chris2048 7y ago

Buying a taco isn't repaying a debt..

CompelTechnic 7y ago
To get the fully nuanced picture: -If you wander around to a grocery store bakery, and eat one of the donuts before getting to checkout, you have the right to settle your debt with cash. -Otherwise, the store can force you to pay with their preferred method, or else will return the merchandise to the shelves.
- Chris2048 7y ago
  > and eat one of the donuts before getting to checkout I'm not sure you have a legal right to do this. I'm pretty sure consuming something that isn't your is actually theft.
  - CompelTechnic 7y ago
    Yeah, that's a good point. I mostly wanted to convey a payment after use of the product or service. A better example might be paying your mechanic after he finishes fixing your car.

miloignis 7y ago

As Chris2048 said, I believe the law draws a distinction between buying something and paying a debt. I've heard that, for instance, you can always use cash at a sit down resturant where you pay at the end because that's paying a debt, but if you order the food (or whatever) up front that's not a debt yet, so they don't have to accept cash. It's an interesting distinction that I only learned about recently, and I'm not sure I agree, but it seems to be the compromise we currently run off of.

ThrowawayR2 7y ago

> “Legal tender for all debts public and private” used to mean something... That's a myth. From the US Treasury Dept. (https://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx https://www.treasury.gov/resource-center/faqs/currency/pages...): "[31 U.S.C. 5103] means that all United States money as identified above are 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 for payment for goods and/or services."