Legal tender

Legal tender is money that the law recognizes as sufficient payment to discharge a debt, subject to applicable rules and exceptions.

Tender of payment: An offer to pay an amount due in the form and manner required by law or agreement. Legal-tender status matters when a debtor offers payment to discharge an obligation.
United States dollar: The official currency of the United States, consisting of monetary units called dollars. U.S. law identifies Federal Reserve notes and coins as legal tender, but their acceptance rules have limits.
Coinage Act of 1792: A United States law that established a federal mint and defined the nation's early coinage system. It set early statutory rules for U.S. coins as payment in public and private obligations.
Bank of England banknotes: Sterling notes issued by the Bank of England and used as currency in England and Wales. They are commonly accepted, though legal tender status is narrower than everyday acceptance.
Digital euro: A proposed digital form of the euro under consideration by the European Central Bank. Its legal status and required acceptance would depend on legislation establishing it.
Discharge of contract: The ending of contractual obligations through performance, agreement, breach, or another legally recognized event. A valid tender of legal tender can satisfy a monetary obligation and discharge the debt.
Central bank digital currency: A digital form of a country's fiat currency that is a direct liability of its central bank. Whether a proposed digital currency counts as legal tender depends on the law that establishes it.
Legal Tender Cases: A series of United States Supreme Court decisions upholding congressional authority to make paper notes legal tender. The cases established the constitutional basis for federal paper money's legal-tender status.
Scottish banknotes: Sterling banknotes issued by commercial banks in Scotland under special statutory arrangements. They are widely used but are not legal tender, even in Scotland.
Financial inclusion: Access to affordable and useful financial services for individuals and businesses. Cash acceptance rules affect people who lack reliable access to digital payment systems.

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