Found 2 items, similar to Legal tender.
English → English
Definition: legal tender
n : something used as an official medium of payment [syn: tender
English → English
Definition: Legal tender
(l[=e]"gal), a. [L. legalis, fr. lex, legis, law;
prob. orig., that which lies or is fixed (cf. L. lectus bed),
and if so akin to E. lie, law: cf. F. l['e]gal. Cf. Lie
be prostrate, Loyal
1. Created by, permitted by, in conformity with, or relating
to, law; as, a legal obligation; a legal standard or test;
a legal procedure; a legal claim; a legal trade; anything
is legal which the laws do not forbid.
(a) According to the law of works, as distinguished from
free grace; or resting on works for salvation.
(b) According to the old or Mosaic dispensation; in
accordance with the law of Moses.
3. (Law) Governed by the rules of law as distinguished from
the rules of equity; as, legal estate; legal assets.
. See under Cap
(a) The act of tendering in the performance of a contract
or satisfaction of a claim that which the law
prescribes or permits, and at such time and place as
the law prescribes or permits.
(b) That currency, or money, which the law authorizes a
debtor to tender and requires a creditor to receive.
It differs in different countries.
Syn: Lawful; constitutional; legitimate; licit; authorized.
1. (Law) An offer, either of money to pay a debt, or of
service to be performed, in order to save a penalty or
forfeiture, which would be incurred by nonpayment or
nonperformance; as, the tender of rent due, or of the
amount of a note, with interest.
Note: To constitute a legal tender, such money must be
offered as the law prescribes. So also the tender must
be at the time and place where the rent or debt ought
to be paid, and it must be to the full amount due.
2. Any offer or proposal made for acceptance; as, a tender of
a loan, of service, or of friendship; a tender of a bid
for a contract.
A free, unlimited tender of the gospel. --South.
3. The thing offered; especially, money offered in payment of
an obligation. --Shak.
. See under Legal
Tender of issue
(Law), a form of words in a pleading, by
which a party offers to refer the question raised upon it
to the appropriate mode of decision. --Burrill.