Re:Cash payments above €3000 to be outlawed in Netherlands
by Karellen on Wednesday August 23, 2023 @12:20PM
(#37238357)
I am curious about the status of legal tender in such regions.
If someone were to owe a business a debt above €5,000, does the fact that they legally cannot accept payment in cash mean that they could legally refuse all proffered forms of payment ("sorry, we don't accept X"), and get that person declared a bad debtor for failure to pay?
The incredibly important thing about legal tender in the form of cash is that, if it is refused as a means of payment, the debt is declared void. It effectively cannot be refused.
If someone were to owe a business a debt above €5,000, does the fact that they legally cannot accept payment in cash mean that they could legally refuse all proffered forms of payment ("sorry, we don't accept X"), and get that person declared a bad debtor for failure to pay?
The incredibly important thing about legal tender in the form of cash is that, if it is refused as a means of payment, the debt is declared void. It effectively cannot be refused.