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In the UK legal tender specifically relates to the settlement of debts: a debtor cannot successfully be sued for non-payment if they pay the exact amount (change cannot be demanded) into court in legal tender. Legal tender is solely for the guaranteed settlement of debts, and does not imply a right to pay with cash in other contexts. [1]
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 Legal Tender Cases primarily involved the constitutionality of the Legal Tender Act of 1862, 12 Stat. 345, enacted during the American Civil War. [1] The paper money depreciated in terms of gold and became the subject of controversy, particularly because debts contracted earlier could be paid in this cheaper currency.
the law of the country in which an action is brought out lex lata: the carried law The law as it has been enacted. lex loci: the law of the place The law of the country, state, or locality where the matter under litigation took place. Usually used in contract law, to determine which laws govern the contract. / ˈ l ɛ k s ˈ l oʊ s aɪ / lex ...
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.
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.
Mises' liberalism is rooted in private property: If property is protected by law, he argued, the other aspects of his liberal vision will likely result. ... Mises even attacked legal tender ...
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.