Re:The War on Cash
by dragonwriter on Wednesday February 17, 2016 @12:19PM
(#11119401)
> Once services have been rendered, it's illegal for someone to not accept cash as payment.
That's actually incorrect. "Legal tender" has a much more subtle effect; what it means is that an attempt to pay in cash meeting the other legal requirements for a tender of payment has an effect on whether and how much damages may be collected if the creditor later sues the debtor for the debt.
That doesn't mean that it is illegal not to accept cash, it does mean that not accepting cash for a debt already incurred may, under certain circumstances, negatively impact the availability of legal recourse to collect the debt.
That's actually incorrect. "Legal tender" has a much more subtle effect; what it means is that an attempt to pay in cash meeting the other legal requirements for a tender of payment has an effect on whether and how much damages may be collected if the creditor later sues the debtor for the debt.
That doesn't mean that it is illegal not to accept cash, it does mean that not accepting cash for a debt already incurred may, under certain circumstances, negatively impact the availability of legal recourse to collect the debt.