The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

LEGAL TENDER Definition & Legal Meaning

Definition & Citations:

Lawfully established national currency denominations. Legally required commercial exchange medium for money-debt payment. Differs widely from country to country. Creditors, lenders, and sellers retain the option to accept financial vehicles, such as checks and postal orders that are not legal tender, for payment of debt . Also known as lawful money.

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