DrLeftover
"I'm different. Let this not upset you" Paracelsus
(quoted material)
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So the question is, why don't the statements on each piece of currency and the various federal laws backing that up mean that a restaurant, shop or airline has to accept paper money?
When does a Coke become a debt?
The answer might surprise you.
Stores don't have to accept paper money. Despite the greenback's apparent claim, the right for a store to refuse cash is supported both by the U.S. Treasury and the Federal Reserve.
There are two reasons that a business can reject cash even if it is "legal tender for all debts public and private."
First, this statement means that the only circumstance when someone must accept the bill is when a person owes the business a debt. If no debt has been incurred, a person or business is not legally required to take U.S. currency.
Let us say it is very late at night and you need gasoline for your car. Many gas stations in the U.S. do not take large bills late at night to prevent robberies and theft. If the gas station requires customers to pay for gas before pumping it into their car, they have the legal right to refuse US$50 and $100 bills. They do not have to accept large bills because until the customer has put gas into the car, the customer does not owe the station owner anything. However, if the customer is allowed to pump gasoline into the car first and then pay, the owner must accept all types of U.S. bills because the customer has a debt to pay.
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(end quote)
More:
http://www.upi.com/Top_News/Opinion...e-your-dollars/4021470407394/?spt=hs&or=tn_an
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....
So the question is, why don't the statements on each piece of currency and the various federal laws backing that up mean that a restaurant, shop or airline has to accept paper money?
When does a Coke become a debt?
The answer might surprise you.
Stores don't have to accept paper money. Despite the greenback's apparent claim, the right for a store to refuse cash is supported both by the U.S. Treasury and the Federal Reserve.
There are two reasons that a business can reject cash even if it is "legal tender for all debts public and private."
First, this statement means that the only circumstance when someone must accept the bill is when a person owes the business a debt. If no debt has been incurred, a person or business is not legally required to take U.S. currency.
Let us say it is very late at night and you need gasoline for your car. Many gas stations in the U.S. do not take large bills late at night to prevent robberies and theft. If the gas station requires customers to pay for gas before pumping it into their car, they have the legal right to refuse US$50 and $100 bills. They do not have to accept large bills because until the customer has put gas into the car, the customer does not owe the station owner anything. However, if the customer is allowed to pump gasoline into the car first and then pay, the owner must accept all types of U.S. bills because the customer has a debt to pay.
...
(end quote)
More:
http://www.upi.com/Top_News/Opinion...e-your-dollars/4021470407394/?spt=hs&or=tn_an
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