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Valued Member
51 Posts |
I have read or heard that if a merchant you are trying to purchase item(s) from says that they will not accept legal US tender from you (i.e. Susan B. Anthony $1.00, gold colored president $1.00, etc.), it said that you could pick up your item and walk out of the establishment and that they could not do a thing about it.
Don't seem like a god thing to do but that's what I understood.
Chip
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Pillar of the Community
United States
1475 Posts |
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you could pick up your item and walk out of the establishment and that they could not do a thing about it. Welcome, and to answer your question, "NO". You cannot walk out with paying for the item. Coinage Act of 1965, Section 31 U.S.C. 5103 " 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. Foreign gold or silver coins are not legal tender for debts." If you read the Act, it says "for all debts", not "for all merchandise". Merchants can set their own rules about accepting money, such as "no large bills over $20", or "no 80 halves to buy tank of gas"  |
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Bedrock of the Community
 United States
12477 Posts |
 Walking out with the merchandise without paying would be "stealing". Businesses have the right to determine what they will and will not accept. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
634 Posts |
, if that was legal I would go on test drive of a fancy car and at the end offer them a trailer full of quarters. They would say no and I drive off. I would get free car. Sadly not legal. |
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Moderator
 United States
56855 Posts |
to CCF. Are there any CCF members who are lawyers? I would like to read what the actual laws are on this subject. John1  |
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Moderator
United States
54280 Posts |
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. https://www.federalreserve.gov/faqs...cy_12772.htm
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Pillar of the Community
United States
4589 Posts |
In nss-52's quote, the key words are OFFER and DEBT.
If you go to buy something, legally you are making an offer to purchase at the indicated price. When the merchant accepts your offer and payment, you've formed a contract. No debt exists until the offer and payment are accepted. If I don't want to accept cash, I don't accept the offer/payment. No deal.
If you have a debt, say you bought that car on time, then I can tender cash. Of course, mailing cash to a PO Box is pretty stupid, and there's no proof until it's posted to your account. But you could. If you bought it at one of those buy here, pay here places, other than paying too much, you are golden.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
1211 Posts |
I would love to hear what other things you have "heard"... Good grief.
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Moderator
United States
56855 Posts |
What about private script and barter?  John1 |
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Valued Member
 51 Posts |
Sorry to have bothered you with my question.
Especially jerseyben
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Moderator
United States
54280 Posts |
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you could pick up your item and walk out of the establishment This is called shoplifting, and not legal. Quote:
and that they could not do a thing about it. This is not true. They can detain you, and call the police and press charges and get you arrested. If only this were true. I'd get my wallet holding just $100 bills and visit every place that won't take bills larger then $20, and go on a "FREE" shopping spree every day. |
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Pillar of the Community
United States
6130 Posts |
It's been proven time and again that you can pay parking tickets and other state-issued fines in buckets and barrels of small change.
Interestingly, you can *not* pay taxes in cash, nor will most credit card companies accept cash to settle a debt. That would be interesting to take to court to test the 1964 Act.
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Moderator
United States
188001 Posts |
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Sorry to have bothered you with my question. Questions are no bother! We are here to learn and I hope you got an answer to your satisfaction. to the Community! |
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Pillar of the Community
United States
718 Posts |
Dollarcoinman. Thanks for your question. I personally found it interesting and I enjoyed the helpful responses. I had actually wondered about the same thing as well. I came close to this situation back in 1976 when they came out with the new $2 bills. I got a bunch of them and tried to pay for my lunch with several of them. The cashier refused them but called the manager over who said they were acceptable.
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Bedrock of the Community
United States
17884 Posts |
And even if you are paying a DEBT, if they refuse the legal tender that does NOT cancel the debt, you still owe it, but since you HAVE made a legal offer to pay it they can't add on additional interest and penalties for late payment.
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Valued Member
51 Posts |
Well, definitely nothing accomplished with the question.
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Replies: 23 / Views: 4,597 |
Posted 05/21/2017 10:13 pm
