3 ms·
That is actually the defining characteristic of legal tender: “money that is legally valid for the payment of debts and that must be accepted for that purpose w
by abduhl 2y ago
That is actually the defining characteristic of legal tender: “money that is legally valid for the payment of debts and that must be accepted for that purpose when offered”
https://www.merriam-webster.com/dictionary/legal%20tender https://www.merriam-webster.com/dictionary/legal%20tender
- antihipocrat 2y agoThanks, you're right and I was totally wrong. I'd delete my comment if I could
- rsynnott 2y agoIts status in El Salvador was actually a bit more than _just_ legal tender; merchants were _required_ to accept it. For instance, the euro is legal tender in the eurozone. I can pay a tax bill or a bank loan with 10cent coins, and technically they have to accept that (though note that some countries do have special rules around whether small change is legal tender). However, a merchant is not required to take my wheelbarrow full of 10cent coins in exchange for goods and services; no debt exists before the purchase. El Salvador was forcing the merchant to take the wheelbarrow.