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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 what is legal tender, but essentially it is anything which, when offered ("tendered") in payment of a debt, extinguishes the debt. There is no obligation on the creditor to accept ...
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.
Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party ...
The rule is particularly problematic in the consumer debt context where a business offers to finance a consumer purchase by accepting a promissory note signed by a consumer for part or all of the balance in lieu of tender of the full cash price, then sells the note to a bank (technically, by selling an assignment of its rights in the note) in ...
(The Center Square) – San Francisco started its ban on county-funded cash assistance for individuals with substance abuse disorders who refuse to engage in treatment. Measure F, approved by ...
Federal legal tender laws in the United States do not require that private businesses, persons, or organizations accept cash for payment, though it must be treated as valid payment for debts when tendered to a creditor. [1] Adidas is not an acronym for "All day I dream about sports", "All day I dream about soccer", or "All day I dream about sex".
A Southern California school district reached an agreement to settle a 2023 lawsuit from a former teacher who refused to adhere to the district’s gender identity-related policies.
By the First Legal Tender Act, Congress limited the Treasury's emission of United States Notes to $150,000,000; however, by 1863, the Second Legal Tender Act, [9] enacted July 11, 1862, a Joint Resolution of Congress, [10] and the Third Legal Tender Act, [11] enacted March 3, 1863, had expanded the limit to $450,000,000, the option to exchange ...
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