January 9th, 2009

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:

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.