If only a rare precious metal was considered legal tender or barter was legal, the banks would no longer have the economic power they presently do. This is coercement, pure and simple. If you or I could lend ten times the cash we have, how would that affect our finances? How would th...
An invitation to tender (ITT) is a formaldocumentthat is issued by a company or an organization inviting suppliers or contractors to submit a bid for a project or service. This process, a legal obligation in many countries, is part of the procurement cycle and is commonly used in public se...
Legal tender has a very narrow and technical meaning in the settlement of debts. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender.
8.1. You may establish a link to any page of our Website (including the what3words Map) from a website that is owned or operated or you, provided that: (a) you do so in a way that is fair and legal and does not damage our reputation or take advantage of it; ...
However, modern-day monetary systems are primarily based onfiat money.It does not have any intrinsic value, butgovernments declare it as legal tender. In other words, people can use it to pay ‘all debts, public, and private.’ The term stems from the Latin word‘Fiat,’which means ‘let...
Since 2021, El Salvador remains the only country to allow Bitcoin as legal tender. Crypto’s legal status in other countries depends on the financial jurisdiction. China has outright banned crypto and crypto mining. In many other countries, legislation regarding crypto is still in the early stages...
On the other hand, with fiat currency systems, the value of a currency isn’t backed by a commodity like silver or gold but is instead guaranteed by the issuing government’s promise to honor the currency as a form of payment or "legal tender." The value of fiat currency is determined ...
Professor Archie Carroll's model of CSR, which is known as Carroll's Pyramid, suggests that organizations should look at four key areas when developing a CSR strategy – Economic, Legal, Ethical, and Philanthropic. He suggests that organizations need to address each of these four areas to achie...
Legal tender is any form of payment recognized by a government, used to pay debts or financial obligations, such as tax payments. National currencies, such as the U.S. dollar, are legal tender. In the U.S., the Treasury is authorized to create and issue dollars to the public.3Federal ...
A liquid asset is cash on hand or an asset that can be easily converted to cash. In terms of liquidity, cash is supreme since cash as legal tender is the ultimate goal. Assets can then be converted to cash in a short time are similar to cash itself because the asset holder can quickl...