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Sellers are largely free to choose what form of payment to accept or refuse, regardless of "legal tender" laws. The concept is much more narrow than commonly as
by em500 2y ago
Sellers are largely free to choose what form of payment to accept or refuse, regardless of "legal tender" laws. The concept is much more narrow than commonly assumed: https://www.federalreserve.gov/faqs/currency_12772.htm https://www.federalreserve.gov/faqs/currency_12772.htm
- buryat 2y agoYes, I wasn't sure about the exact legal code around it, hence I said "it doesn't have to be accepted" and provided a potential explanation that the counterparty can present. In the cited Section 31 U.S.C. 5103 it says: > Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks What would be the legal definition of a note sheet? Is it a note or not? A collection of bank notes? The bank notes have pretty specific definitions down to the specific measurements up to a certain precision. Would a music note sheet fall under this definition as well? I don't see what the US mint sells as a legal tender given the strict definition of bank notes themselves.