Post
Topic
Board Beginners & Help
Re: Exchange accidentally sent 512 bitcoins after coding error
by
indio007
on 04/09/2011, 21:11:48 UTC
, but the US dollar is recognized as having value because it is legal tender for all goods and services public or private.  <-- WTF


HAHAAH I didn't even see this. You really are clueless.


http://www.federalreserve.gov/faqs/currency_12772.htm

Quote
Is it legal for a business in the United States to refuse cash as a form of payment?

Section 31 U.S.C. 5103, entitled "Legal tender," 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 is 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 payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.