Yes, and no.
US currency is always valid for payment of debts in the United States.
If a person already owes someone a sum of money, and US currency is refused, the debt may be cancelled.
An offer to pay the debt by legal tender would have been refused. In a court of law, the person refusing the money would have to justify it.
However, in a transaction involving personal services or to exchange for goods of any type, the person providing the goods and services can specify the valid forms of payment. That would be written or verbal contracts, and they don't have to accept US Currency. They can state any form of payment that does not violate discrimination laws.
Let's say someone is selling a car. They can state "I only accept gold or silver coins".
You can offer a suitcase full of cash, and they don't have to accept it in exchange for the car.
Outside the US, the US Government has no authority, people do not have to accept US currency.
There are 164 currencies around the world and 195 countries, so some countries can use currency of another.
Bonaire, an island municipality of the Netherlands, lies off Venezuela’s coast in the southern Caribbean. They use US Dollars as official currency.
Also, other non-USA islands and independent countries shown here also use US Dollars as currency.
British Indian Ocean Territory (UK), British Virgin Islands (UK), Caribbean Netherlands (Netherlands), Ecuador, El Salvador, Marshall Islands, Micronesia, Palau, Panama, Saba (Netherlands), Sint Eustatius (Netherlands), Timor-Leste, Turks and Caicos Islands (UK), Zimbabwe
Add: Many people and businesses around the world accept US currency at an exchange rate of their choice you both agree upon.
If the example and wording is read carefully, there is a difference of settle a debt versus a transaction contract.
I very carefully crafted the difference. Already owes versus a new transaction.
A person does NOT have to accept money as payment for goods and services.
If the goods and services created a debt, with no pre-arranged contract of payment method, THEN the debt is settled with cash.
< If a person already owes someone a sum of money, and US currency is refused, the debt may be cancelled. >
That's simply not correct.
From the US Treasury site
I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?
The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which 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 are 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 for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
Yes, you can refuse to accept US dollars. As long as you aren't using this as a pretext for illegal discrimination (only white people can pay with dollars) or violating other laws (like asking for payment in sex), you can ask for payment in goods or money or whatever you want.
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