4 ms·
I doubt it's prohibited, but any bills are equivalent legal tender for legal debts. If old bills became worth less than new bills people who lost lawsuits would
by gpm 6y ago
I doubt it's prohibited, but any bills are equivalent legal tender for legal debts. If old bills became worth less than new bills people who lost lawsuits would start acquiring them at a discount to pay their debt, and they would drive up the price of the old bills until they equaled the price of new bills. (IANAL)
- colechristensen 6y agolegal tender in the us means all debts public or private, you have to incur the debt to have that protection. shop keepers aren’t forced to sell you a pack of gum for $100 , they can just say no sale. rules vary wildly by location. your bank or the fed aren’t ever going to play games with the value of a dollar.