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Posted 01/15/2022 6:10 pm
@sap those are interesting points but you are wrong about #1. The business in your example has no legal obligation to accept payment all in one cent coins. Straight from the Federal Reserve:
https://www.federalreserve.gov/faqs...cy_12772.htm
Federal code says dollars have to be accepted as legal tender, but does not mandate what forms of dollars must be accepted. You might find a state law that says otherwise, but I'm not sure that there is one. If a business wants to be clear about it, post a sign, like the "no bills over $20" you often see at convenience stores.
People do try it out of spite. Trying to pay a fine at a government office in pennies is a common example. There was a recent case where a shop owner paid a former employee his last paycheck in 91,500 cents, by dumping them in his driveway. The US Department of Labor is suing the employer for retaliation.
https://www.federalreserve.gov/faqs...cy_12772.htm
Quote:
Is it legal for a business in the United States to refuse cash as a form of payment?
There is 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 that says otherwise.
Is it legal for a business in the United States to refuse cash as a form of payment?
There is 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 that says otherwise.
Federal code says dollars have to be accepted as legal tender, but does not mandate what forms of dollars must be accepted. You might find a state law that says otherwise, but I'm not sure that there is one. If a business wants to be clear about it, post a sign, like the "no bills over $20" you often see at convenience stores.
People do try it out of spite. Trying to pay a fine at a government office in pennies is a common example. There was a recent case where a shop owner paid a former employee his last paycheck in 91,500 cents, by dumping them in his driveway. The US Department of Labor is suing the employer for retaliation.
Edited by kbbpll
01/15/2022 6:19 pm
01/15/2022 6:19 pm
