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Sovereign citizen sent payment in silver coin, rental company sent him a patient letter back. (lemmy.world)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 29 points 8 months ago (1 children)

Not quite. Any seller can reject any form of payment at the point of sale. But, after a contract has been established, private parties are required to accept U.S. currency as a form of payment.

Hence the words printed on paper money: "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE."

[–] [email protected] 8 points 8 months ago (1 children)

The case Marbury v. Madison (1803) established the power of Congress to declare legal tender. However, it also clarified that this power doesn't compel private entities to accept it for all transactions.

[–] [email protected] 19 points 8 months ago

I'm not talking about a transaction like in a grocery store. I'm taking about contracts. Under contract law, a debt paid in US currency is considered fulfillment of the contract.