Legal tender laws in the U.S. are inherently discriminatory. The reason is the fractionalized banking system. A bank in the U.S. can legally lend 10 times the money they have on deposit. This money (for every dollar they have, they can create nine dollars out of thin air) power grant...
Legal tender is commonly understood to mean anything that can be used to pay down debt, bills, or post bail. Often, it is the nation's currency that...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your...
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 ...
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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...
Limited legal tender is a form of legal tender that can be used to pay a debt or used in exchange for goods and services, but only up until a certain...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer ...
The Euro Has Arrived (Almost). but What Will It Mean to You?; the Euro Is about to Become Legal Tender across Most of Europe. Oliver Bennett Looks at How It Will Affect Travellers on New Year BreaksByline: OLIVER BENNETT ON TUESDAY, the euro becomes the official currency for 12 ...
根据第一段中 “While in the past, children used to rejoice after receiving hongbao from elders in person, nowadays they mostly receive them online thanks to the coming of mobile payment apps such as Alipay and WeChat, which urged the central bank to create a new legal tender(法定货币) for...
What is an invitation to tender (ITT)? 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...
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 aslegal tenderis the ultimate goal. Assets that can be converted to cash quickly are similar to cash itself and are thus also liquid. ...