Questions tagged [legal-tender]
14 questions
43
votes
4 answers
It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies?
I'm trying to find out about businesses refusing $50 & $100 bills. Aren't they required by law to accept all legal tender? I had one person say it could be that it's not all legal (i.e. a concern for counterfeit currency) – in that case shouldn't…
Cherie-Lynn
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41
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5 answers
How common is counterfeit money in circulation?
I've noticed recently that several places where I paid with a $20 bill, the cashiers used a small marker to detect whether the bill was counterfeit or not before accepting it. Like so:
I saw this happen at
the post office (multiple times)
the…
Jeff Atwood
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11
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2 answers
I've heard pennies are being phased out in Canada. Is this true?
If so, will it affect how retailers price items? Will they round up?
Nat_Rea
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6
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1 answer
Can limits be placed by a merchant on which currency notes are accepted as legal tender?
Possible Duplicate:
It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies?
Here in the USA, it seemed to be becoming more and more common for retailers (both small and large alike) to…
Fixed Point
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6
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Do companies that get taken-over have to honour the old gift card/certificate?
With reference to this question, can companies that get taken over set limitations on honouring gift cards issued prior to the take-over? Also if a company just changes it's name, can it set limits on the gift cards issued under the old name?
Zephyr
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4
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5 answers
What are the bounds of the enforced value of "legal tender"?
Suppose Bob and Alice are both U.S. citizens and Bob lends Alice 100 euros with 105 euros required to be paid back to Bob in exactly one month. A month later, Alice comes back with X amount of dollars which she claims is equivalent to 105 euros. …
wanderingmathematician
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4
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1 answer
Do gift cards expire? Does a gift certificate's value depreciate? How long can I keep them for?
I recently found several gift certificates (yes, way back when) from stores like Restoration Hardware, Omer DeSerres (now Loomis) and Jacob. I live in Canada. Can I use these certificates today, even though stores generally take cards nowadays? …
Nat_Rea
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2
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1 answer
Is it possible for an individual to refuse a cheque in France?
Some shops in France do not accept cheques (anymore or never have).
Is it legal for an individual in France to refuse payment by cheque as well? In other words, is it possible to force someone (an institution or company) to use a specific payment…
WoJ
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Legal way US based Employer transfer money to India based employee
I am a software engineer, currently working for a US based company.
Situation :
I have got my old US employer back with me where they want me to be their employee right now (meanwhile they are applying for my H1B visa, but it will take ~8 month to…
Alok Singh
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1
vote
1 answer
Must I accept Canadian funds if I do business in Canada
I'd like to sell a product in Vancouver, Canada. If the company is Canadian, must I accept Canadian dollars? If my company is not incorporated in Canada, does anything change ? Can I sell a product to an individual in Canada if my company is not…
Boris R
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1
vote
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Why are foreign exchange notes always freshly printed?
Why are bills freshly printed when buying foreign currency?
I've used the same exchange for 15 years or so now and I've noticed the bills I receive have always been fresh and I don't mean they just look "flat" and "neat". My curiosity grew to the…
Doki
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0
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Do legal tender laws require the debt collector to make change?
I've read that legal tender laws require a debt collector to accept any legal tender for the debt. Does the law also obligate the debt collector to return any change owed?
So suppose I walk into a sit-down restaurant, order a $2 soda, drink it, and…
Kevin K
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US currency is only required to be accepted for actual debt
If I go to a drivethru, order food, get to the cash register, have I created a debt? They have already begun preparing and bagging my food? Do they have to take my 50 or $100 bill? At what point have I created a debt?
Kayla
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votes
4 answers
Why did the $2 bill lose its cash value?
The $2 bill used to be worth two dollars, (duh) but now it's worth nothing in most places. Why?
Eevee
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