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“Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”
originally posted by: Hoosierdaddy71
Most hotels will not accept cash either.
Try to rent a car with cash.... Not happening.
originally posted by: Hoosierdaddy71
Most hotels will not accept cash either.
Try to rent a car with cash.... Not happening.
Yes all true. Cash will go the way of the dodo.
originally posted by: Klassified
Get used to it. This is the future. Cash is too private. They want to know EVERYTHING. What, when, where, why, who, and how. Credit and debit make that easy. The day will come when even buying from an individual will have to be done with credit/debit card. Incrementally, cash will be a memory in the minds of the elderly.
So those words on greenbacks are a lie? Where is the law that supports your claim? Greenbacks say otherwise.
originally posted by: OrphanApology
a reply to: Bilk22
Private businesses don't have to accept cash.
I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?
The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "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."
This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
Thanks for that quote. They should change the verbiage on greenbacks, but that would make them much larger
originally posted by: OrphanApology
a reply to: Bilk22
The only thing money promises is that it's legal tender. It doesn't mean that cash has to be accepted by private businesses.
I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?
The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "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."
This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
www.treasury.gov...