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Started By
Message
re: Coin shortage.
Posted on 6/28/20 at 10:18 am to TypoKnig
Posted on 6/28/20 at 10:18 am to TypoKnig
quote:
I’ve seen many businesses not take cash which I didn’t think was allowed.
Cash is always considered to be legal tender for all debts, public and private. It says it right there on the bills. That it is tender is explicitly stated in United States Code. However, there is no federal law that says it has to be accepted; just that the United States recognizes it as legal tender. Generally, a business can refuse cash if they notify you verbally or with signage in conspicuous places that cash is not accepted PRIOR to the transaction taking place. Once the transaction has started, the law (i.e.: courts) generally will say that the terms of the transaction can't change. If you didn't exclude cash up front and cash is legal tender, you have to accept it as payment. You are also free to accept anything else as payment. Barter if you want, as long as you set the terms prior to starting the transaction.
However, if paying a debt (let's say a grocery store runs a tab for you that you pay weekly), cash must be accepted. Again, it says it right on the bill: "ALL DEBTS, public and private". Once a debtee allows the debt to be created, cash cannot be refused as payment. ALL DEBTS.
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