Just pulled out some US currency, just to be sure, and YES it is still marked, “This note is legal tender for all debts, public and private”. Wonder how these NO CASH places get around that?
CAN be used for all debts, public & private. Doesn’t mean that the merchant HAS to take it.
I wondered the exact same thing.
The note says that you cannot refuse cash for debt purposes. It does not say that you have to accept cash for purchasing purposes. That was to protect indebted people from losing their land or tools because somebody refused cash to settle a debt.
A smart retailer will be as flexible as possible, but there is no law stating that he must accept cash.
I suppose paper doesn’t care what you write on it?
Meanwhile, I was thinking...
If a person has bad credit, they may not have a bank account, and no credit or debit cards, this means the business will discriminate against him for his financial disability. I find this quite entertaining.
If I remember my contract law, the tender of legitimate payment satisfies the buyer's obligation. Refusal of the seller to accept official US currency relieves the buyer of any additional obligation, and he is free to walk away with the "purchase."
There are exceptions. Airlines can refuse to accept large-denomination bills simply because they don't want to risk carrying a lot of cash for change. You probably can't pay for your new car with pennies (although it could certainly be argued that those coins are also legal tender).
But this was a perfectly legal tender of payment, refused for no good reason.
Beat me to it - Thanks!
" Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."
This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.",
It basically falls down to the point of when you incur the debt ... if you already have the goods or have received the service, then you can pay with cash, but, if say you go get gas for your car and want to pay cash, you can't pump the gas until you pay for it and the station can refuse cash if they want.
I was curious when Delta in Atlanta refused to accept any US dollars so as I could gain access to the Skycrap lounge or whatever it is named. I thought US dollars were legal tender. NOPE. Credit card only I was told. Must have been my whitish skin tone. Or maybe I was Christian. Beats me.
You read the reason right there. It’s good for all DEBTS. Until you’re in possession of a good or service you don’t owe a DEBT for it and the medium of consideration is still open to negotiation.
Technically, they can’t (legally). We’ll see what happens.