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.
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.
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.
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.