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  1. Dictionary
    legal tender

    noun

    • 1. coins or banknotes that must be accepted if offered in payment of a debt.

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  2. www.investopedia.com › terms › lLegal Tender: Definition, Economic Functions, Examples - ...

    Jun 13, 2021 · Legal tender is the legally recognized money within a given political jurisdiction. Legal tender laws effectively prevent the use of anything other than the existing legal tender...

  3. www.supermoney.com › encyclopedia › legal-tenderLegal Tender: Definition, Functions, and Real-World Examples

    Apr 30, 2024 · Legal tender is essentially the official currency of a specific political jurisdiction, recognized and accepted by both individuals and institutions within that jurisdiction. This currency is used to facilitate transactions, pay off debts, and conduct various financial activities.

  4. www.merriam-webster.com › dictionary › legal tenderLegal tender Definition & Meaning - Merriam-Webster

    The meaning of LEGAL TENDER is money that is legally valid for the payment of debts and that must be accepted for that purpose when offered. How to use legal tender in a sentence.

  5. vajiramandravi.com › prelims-pointers › what-is-a-legal-tenderWhat is a Legal Tender? - Vajiram & Ravi

    Aug 26, 2023 · About Legal Tender: It is a type of currency or medium of exchange. It is money that is valid and acceptable for the settlement of debts which must be recognized when issued. Almost every country uses its national currency as legal tender. Creditors are lawfully responsible for accepting legal tender for the repayment of debt that they have ...

  6. cleartax.in › glossary › legal-tenderLegal Tender - Definition, What is Legal Tender, Advantages of ...

    'Legal tender' is the valid money used for payment of the debt and also recognised by the law of the land. It should be accepted for the discharge of debt. The central bank has the sole right to issue banknotes as empowered by the RBI Act of 1934.

  7. dictionary.cambridge.org › dictionary › englishLEGAL TENDER | English meaning - Cambridge Dictionary

    LEGAL TENDER definition: 1. the money that can be officially used in a country 2. the money that can be officially used in a…. Learn more.

  8. en.wikipedia.org › wiki › Legal_tenderLegal tender - Wikipedia

    Legal tender is a form of money that courts of law are required to recognize as satisfactory payment 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.

  9. www.investopedia.com › what-difference-between-fiat-money-and-legal-tenderFiat Money vs. Legal Tender: What’s the Difference? - ...

    Aug 27, 2023 · Key Takeaways. Fiat money has no intrinsic value, while legal tender is any currency declared legal by a government. Governments can issue fiat currency and make it legal tender by...

  10. quickonomics.com › terms › legal-tenderLegal Tender Definition & Examples - Quickonomics

    Apr 29, 2024 · Definition of Legal Tender. Legal tender is currency that must be accepted if offered in payment of a debt. The term is typically associated with national fiat currencies issued by a country’s central bank or treasury.

  11. dictionary.cambridge.org › us › dictionaryLEGAL TENDER definition | Cambridge English Dictionary

    LEGAL TENDER meaning: 1. the money that can be officially used in a country 2. the money that can be officially used in a…. Learn more.