Posts Tagged ‘legal tender laws’

Today, I was reminded of how my local gym didn’t accept cash as a form of payment as early as 2007. It reminded me of legal tender laws, and how I had been led to believe that cash was always accepted as a form of payment, but checking into that proved otherwise.

According to the Merriam-Webster Online Dictionary, legal tender is “money that is legally valid for the payment of debts and that must be accepted for that purpose when offered.”

But the payment in question isn’t for a debt, but for a service, and that is how they can legally refuse cash as payment. As a taxi driver once informed me, it’s only if you agree to let the person come back and pay you later, that it becomes a debt. Then, they can pay you cash, without you being able to legally refuse it.

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