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My understanding is that it can't be refused to settle a debt, for instance your restaurant/bar/hotel tab or for paying your car note, mortgage, taxes etc. How
by yucky 4y ago
My understanding is that it can't be refused to settle a debt, for instance your restaurant/bar/hotel tab or for paying your car note, mortgage, taxes etc.
However, a store owner can choose to only accept bottle caps or conch shells in exchange for their goods if that's what they want to do. If you go up to the register and you tell them you want the widget, you have to pay whatever they're asking in exchange. Doesn't have to be cash, credit or even money of any sort.
- imtringued 4y agoHe has to pay taxes which can only be settled with dollars.
- alexb_ 4y agoI wonder if this means I can use treasury bonds as payment at a restaurant (of course practically they would refuse, and I don't suggest trying this, but an interesting thought)
- yucky 4y agoHadn't thought of that, but I don't believe Treasury Bonds are considered legal tender nor do they instruct the bearer on it that they have to be accepted "for all debts, public and private". As an aside, our currency used to say that they could be exchanged for the denomination in Gold (or silver, depending on the note) on demand at the US treasury.