Christopher tm Herdt (cherdt) wrote,
Christopher tm Herdt
cherdt

The Fine Print: Why can't I pay cash for that?

Printed on US paper currency is the phrase, "This note is legal tender for all debts, public and private". I've often wondered why, if that's the case, some businesses can get away with not accepting cash as a form of payment.

If you've wondered the same, wonder no more! Apparently the key word is debts:
http://www.ustreas.gov/education/faq/currency/legal-tender.shtml#q1

If you are attempting to purchase goods or services, no transaction has yet taken place between you and the provider of the goods or services: no debts have been incurred.
Tags: money
Subscribe
  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 3 comments