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Legal tender is a form of money that courts of law are required to recognize as satisfactory payment in court for any monetary debt. [1] Each jurisdiction determines ...
In the United States, the perfect tender rule refers to the legal right for a buyer of goods to insist upon "perfect tender" by the seller. [1] The rule appears in the Uniform Commercial Code (UCC) § 2-601. [2] The UCC was designed "to simplify, clarify, modernize, and make uniform the law of commercial transactions." [3]
The tender years doctrine is a legal principle in family law since the late 19th century. In common law , it presumes that during a child's "tender" years (generally regarded as the age of four and under), the mother should have custody of the child.
Legal tender, a form of money with a specific legal status; Invitation to tender, a structured invitation to vendors for the supply of goods or services; Procurement, a process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process
At common law, substantial performance is an alternative principle to the perfect tender rule. It allows a court to imply a term that allows a partial or substantially similar performance to stand in for the performance specified in the contract.
This Note is a Legal Tender for all debts public and private except Duties on Imports and Interest on the Public Debt; and is receivable in payment of all loans made to the United States. By the 1930s, this obligation would eventually be shortened to: This note is a legal tender at its face value for all debts public and private
In exceptional circumstances, an invitation for tenders may be an offer, as in Harvela Investments v Royal Trust of Canada [1986], [5] where the court held that because defendants had made clear an intention to accept the highest tender, then the invitation to tender was an offer accepted by the person making the highest tender.
Juilliard v. Greenman, 110 U.S. 421 (1884), was a Supreme Court of the United States case in which issuance of greenbacks as legal tender in peacetime was challenged. The Legal Tender Acts of 1862 and 1863 were upheld. Augustus D. Juilliard sold and delivered 100 bales of cotton to Thomas S. Greenman [1] for $5,122.90. Greenman tendered $5,100 ...