legal tender

English - Turkish

Definition of legal tender in English Turkish dictionary

(Ticaret) kanuni para

(Ticaret) yasal ödeme aracı

yasal para

(Ticaret) ulusal para

ödeme aracı

English - English

Definition of legal tender in English English dictionary

all currency issued by a governmental authority as official money

money or currency that is backed by a government - used for exchange

The coin or currency which the monetary authority of a country declares to be universally acceptable therein as a medium of exchange; acceptable in the discharge of debts

Currency explicitly determined by a government to be acceptable in the discharge of debts

something used as an official medium of payment

Any medium of exchange which may legally be offered in exchange for goods or services or in payment of a debt, and which a creditor, seller or service provider must legally accept

(A) The circulating medium of a nation, according to a standard fixed by the government of that nation It may be in metal, in paper, or anything else that the government may choose to sanction In England, at present (1895), the standard is a gold sovereign, guaranteed of a fixed purity In some countries it is silver, and in some countries the two precious metals are made to bear a relative value, say twenty silver shillings (or their equivalents) shall equal in commercial value a gold sovereign In Germany, before 1872, a very base silver was a legal tender, and in Ireland James II made a farthing the legal tender represented by an English shilling, so that 5d was really a legal tender for a sovereign Of course, export and import trade would not be possible under such conditions

Coins that have been authorized by Congress This includes circulating coins and all commemorative coins legislated by Congress

money that must be accepted according to law

(1) An offer to do a thing, conformably to the requirements of the law in the case (2) Money that may be offered in payment of a debt

TR>

Legal tender is money, especially a particular coin or banknote, which is officially part of a country's currency at a particular time. Legally valid currency that may be offered in payment of a debt and that a creditor must accept. coins or bank notes that people can officially use as money in a particular country

The authorized currency, backed by the government, that must be accepted in payment of all public and private debts

Money that may be legally offered in payment of an obligation and that a creditor must accept (source: Webster's New World Dictionary)

Instrument declared by a government to be acceptable for the settlement of debts incurred in financial transactions

A legal tender is a mean of payment (gold, coin, note, etc ) which the laws forces the sellers to accept to settle debt That is, if you're a banana wholesaler, you can refuse payment in coconuts but you have to accept dollars from a client who want to pay its debts

a coin declared by a government to be acceptable in the payment of all debts

Related Terms

legal tenders

plural form of legal tender

Hyphenation

le·gal ten·der

Turkish pronunciation

ligıl tendır

Synonyms

circulating medium, cold cash, currency, hard cash, honest money, medium of exchange, money, sound currency, valid currency

Pronunciation

/ˈlēgəl ˈtendər/ /ˈliːɡəl ˈtɛndɜr/

Etymology

[ 'lE-g&l ] (adjective.) circa 1500. Middle French, from Latin legalis, from leg-, lex law.