Hello chooseme-ga,
This is an interesting question.
The U.S. Treasury Department has addressed the meaning of this
sentence. Its Bureau of Engraving and Printing explains:
"Section 102 of the Coinage Act of 1965 (Title 31 United States Code,
Section 392) provides in part:
'All coins and currencies of the United States, regardless of when
coined or issued, shall be legal tender for all debts, public and
private, public charges, taxes, duties and dues.'
This statute means that you have made a valid and legal offer of
payment of your debt when you tender United States currency to your
creditor. However, there is no Federal statute which mandates that
private businesses must accept cash as a form of payment. Private
businesses are free to develop their own policies on whether or not to
accept cash unless there is a State law which says otherwise."
"Legal Tender: A Definition"
Bureau of Engraving and Printing
United States Department of the Treasury
http://www.bep.treas.gov/document.cfm/18/110
The Treasury Department further explains:
"For example, a bus line may prohibit payment of fares in pennies or
dollar bills. In addition, movie theaters, convenience stores and gas
stations may refuse to accept large denomination currency (usually
notes above $20) as a matter of policy."
"FAQs: Currency - Legal Tender Status" [answer to first question]
United States Department of the Treasury
http://www.ustreas.gov/education/faq/currency/legal-tender.html#q1
So, in summary, it seems that you can legally offer (or "tender") a
dollar bill as payment for debts (such as when you owe money for
particular goods that you take to the cash register), but the person
to whom you owe that money can request a different form of payment.
(Please note that an answer on Google Answers is not a professional
legal opinion. This is just my layperson's understanding of what the
Treasury Department has said.)
I hope that this information is helpful.
- justaskscott-ga
Search terms used on Google:
site:gov "legal tender" "debts public and private" |
