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This is the case even when an existing debt is involved. However, refusal to accept legal tender in payment of an existing debt, where no other means of payment/settlement has been specified in advance, conceivably could have consequences in legal proceedings. [3] [18]
The Legal Tender Cases were two 1871 United States Supreme Court cases that affirmed the constitutionality of paper money. The two cases were Knox v. Lee and Parker v. Davis. The U.S. federal government had issued paper money known as United States Notes during the American Civil War, pursuant to the terms of the Legal Tender Act of 1862.
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An act to enable the governor, council, and assembly of his Majesty's colony of New York, to pass an act of assembly for creating and issuing upon loan paper bills of credit to a certain amount; and to make the same a legal tender in payments into the loan offices and treasury of the said colony. Citation: 10 Geo. 3. c. 35: Territorial extent
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Knox v. Lee, 79 U.S. (12 Wall.) 457 (1871), was an important case for its time in which the Supreme Court of the United States overruled Hepburn v. Griswold. [1] In Knox v.. Lee, the Court held that making paper money legal tender through the Legal Tender Act did not conflict with Article I of the United States Constitut
The Louvre's move could bring it into conflict with the Bank of France, which said refusing cash is illegal and unnecessary. Skip to main content. Sign in. Mail. 24/7 Help. For premium support ...
The Utah Legal Tender Act, passed March 10, 2011, recognizes gold and silver coins issued by the United States [1] as legal tender in the state of Utah. [2] This includes allowing the state of Utah to pay off debts in gold and silver and allowing individuals to transact in gold and silver coins without paying state capital gains tax, [3] among other provisions. [4]