For some reason sovcit can't find the legislation for this fanciful idea.
For some reason sovcit can't find the legislation for this fanciful idea.
32 comments
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Wait now he wants acts/legislation to be legit?
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This list of covcits getting away with anything at all is pretty short compared to what they attempt- like 0.
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It's in the bottom drawer of the desk in the room that has a flag with a fringe. Or something.
32 comments
Actually Tort law in every state makes any debt null and void if payment in legal tender is refused. A promise note, whatever the fuck that is, does not constitute legal tender. That's why your dollar bills say they're legal tender for all debts public and private. And also why people have gotten away with paying large debts in pennies just to be an asshole.
As they say, In God we trust, all others pay cash.
huh interesting… in australia there’s an upper limit on the amount you can pay with low denomination coins
https://en.m.wikipedia.org/wiki/Australian_five-cent_coin#cite_note-4
In general you can get away with it once in the US. After that, it's still payment, but is also considered harassment, and they'll charge you for it. There isn't a law against it, because they'll apply other laws if you do it
Wait, so, if I owe you 6,05 AUD, it's impossible to pay you in full with legal tender?
According to Snopes, your first statement is not accurate:
“The designation of coins and/or currency as "legal tender" does not mean that all merchants must accept that form of payment for all transactions. In short, when a debt has been incurred by one party to another, and the parties have agreed that cash is to be the medium of exchange, then legal tender must be accepted if it is proffered in satisfaction of that debt. However, otherwise the selling party may set the medium of exchange to be anything they choose: dollars, bananas, precious gems, feathers, whiskey, etc. They may also choose to accept cash payment only via alternative forms (e.g., credit/debit card, check, money order) rather than currency itself.”
“although no federal regulation requires businesses to accept currency and coins as payment, local regulations may do so. Massachusetts has had such a law in place since 1978, and New Jersey enacted similar legislation in 2019. A few cities (e.g., San Francisco, Philadelphia) have prohibited stores from going cashless as well.”
https://www.snopes.com/fact-check/legal-tender-payment/
Merchants don't have to accept legal tender because you haven't incurred a debt by attempting to purchase something, other than a few states as you have mentioned. It's not a debt, it's a market transaction. Tort law also includes provisions to be considered in the case of contracts. Absent other provisions, legal tender must be accepted if offered, and refusal of tender by a recognized representative of the creditor nullifies the debt.
Local proof of this:
A local artist received a 15000 LTL (now unused currency, now 4350 EUR) fine for calling in a fake bomb threat at his friend's wedding. He proceeded to pay it in cent coins, which weighed 700 kilos.
Regarding promissory notes, they are definitely a thing, also known as a note payable, two people agree that x will pay y with a certain amount and interest and it is as good as money, but you can't just randomly write one up.
Wikipedia link
But is his promise note actually a promissory note? Or is it some sovcit bullshit to avoid banks?
Well, I think I can spot the sovcit solution to the this problem from a mile away, and it's the shape of a sharpie.
Also, promissory notes are definitely a real thing, but more so if you're, say, importing a ship full of cargo from another continent. Not so much if you're paying for your car.
They are a real thing, but they are not legal tender.
As soon as the can get the Secretary of the Treasury to sign their monopoly money, they'll be in business.
Thing is, the entire monetary system is kind of a promise note, just a rather reliable and legally enforceable one.
Even something like a payment plan is essentially a promise note, credit cards too.
Put some money in a can of spaghetti-O's and see if they refuse it?
Pretty sure that would "vandalise" the money, making it no longer required to be accepted...