The condition on which the debt was contracted must be fulfilled. If a term had been stipulated in favor of a creditor, it must be expired; the offer should be made at the time agreed upon for the performance of the contract if made afterwards, it only goes in mitigation of damages, provided it be made before suit brought. A tender may be of money or of specific articles; these will be separately considered. One effect of the legal tender law is that it allows debts and obligations to be discharged in a cheaper form of “dollars” than coins made of gold and silver. Note that none of these charges have anything to do with “legal tender,” or any restrictions on people to transact in the currency of their choice. A tender is an offer to do or perform an act which the party offering, is bound to perform to the party to whom the offer is made. You could even make a contract defined in “gold dollars”, or something of that sort. . It is not a substitute for professional legal assistance. You could make a contract denominated in euros. My website is: newworldeconomics.com. 2. A tender may be o The present legal tender law in the U.S. is Section 5103 of title 31, United States Code, which reads: 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. All the latest wordy news, linguistic insights, offers and competitions every month. Tender of amends. It must be made to the creditor having capacity to receive it, or to his authorized agent. Today, 9 October, is the penultimate day of this year’s World Space Week, a UN event launched in 1999. 5. Thus, it in effect enables floating fiat Federal Reserve notes and deposits to be used in payment of “dollar” debts. If, for example, the contract is for delivery of goods from the seller to the buyer on demand, the former being the manufacturer of the goods or a dealer in them, no place being particularly named, the manufactory or store of the seller will be considered as the place intended, and a tender there will be sufficient. Prosecutors actually argued in court that the 90% silver Liberty dollar coins were a counterfeit of the common twenty-five cent piece. An offer of money; the act by which one produces and offers to a person holding a claim or demand against him the amount of money which he considers and admits to be due, in satisfaction of such claim or demand, without any stipulation or condition. Money, currency that is issued by the government of…, Always, and still ready. All rights reserved. All Rights Reserved, This is a BETA experience. When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people. Opinions expressed by Forbes Contributors are their own. 3. What is a legal tender law? What’s classed as legal tender varies throughout the UK. I talked to a legal expert about it, and discovered – as I suspected – that it doesn’t mean quite the same thing as many people think it does. Example sentences from the Collins Corpus, Example sentences from Collins dictionaries, the month of flowers: the eighth month of the French revolutionary calendar , extending from April 21 to May 20, 'Hepatomegaly' and 'hydronephrosis' are among the most frequently looked-up words in September. We have almost 200 lists of words from topics as varied as types of butterflies, jackets, currencies, vegetables and knots! When the goods are cumbrous, and the place of delivery is not designated, nor to be inferred from the circumstances, it is presumed that it was intended that they should be delivered at any place which the creditor might reasonably appoint; if the creditor refuses, or names an unreasonable place, the debtor may select a proper place, and having given notice to the creditor, deliver the goods there. Definition, Rechtschreibung, Synonyme und Grammatik von 'Tender' auf Duden online nachschlagen. Obviously, we have a de facto prohibition on any gold- or silver-based currency that poses a significant challenge to the dominance of the floating fiat Federal Reserve “dollar.” The government seems to be terrified even of rinky-dink operations like the Liberty dollar. It is possible that the law may not apply to you and may have changed from the time a post was made. The tender must be made at the place agreed upon for the payment, or, if there be no place appointed for that purpose, then to the creditor or his authorized agent. § 2; one count of selling, and possessing with intent to defraud, coins of resemblance and similitude of United States coins in denominations of five cents and higher, in violation of 18 U.S.C. You can get a certain insight into human nature from analysing the words that people look up in dictionaries. Wörterbuch der deutschen Sprache. Foreign gold or silver coins are not legal tender for debts.
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