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<p><b>Legal tender</b> is a form of <a href="page.php?w=money">money</a> that <a href="page.php?w=Standard_of_deferred_payment">courts of law are required to recognize as satisfactory payment</a> in court for any monetary <a href="page.php?w=debt">debt</a>. Each <a href="page.php?w=jurisdiction">jurisdiction</a> determines what is legal tender, but essentially it is anything which, when offered ("tendered") in payment of a debt, extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering</p><p>
<a accesskey="3" href="page.php?w=legal_tender&amp;p=2">3.Next</a>
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