On Wed, Feb 11, 2009 at 5:58 PM, justin <justin@emproshunts.com> wrote:
> (...) the Government is refusing to take money
> they are required by law to take. "This Note Is Legal Tender For All Debts
> Public and Private" its appears on all the US currency. gotta love it
Not really. From
http://www.ustreas.gov/education/faq/currency/legal-tender.shtml :
Question:
I thought that United States currency was legal tender for all debts.
Some businesses or governmental agencies say that they will only
accept checks, money orders or credit cards as payment, and others
will only accept currency notes in denominations of $20 or smaller.
Isn't this illegal?
Answer:
The pertinent portion of law that applies to your question is the
Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled
"Legal tender," which states: "United States coins and currency
(including Federal reserve notes and circulating notes of Federal
reserve banks and national banks) are legal tender for all debts,
public charges, taxes, and dues."
This statute means that all United States money as identified above
are a valid and legal offer of payment for debts when tendered to a
creditor. There is, however, no Federal statute mandating that a
private business, a person or an organization must accept currency or
coins as for payment for goods and/or services. 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. 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.
