Legal Tender Definition
Legal tender is the official medium of payment, recognized by a country's government, that creditors are legally obligated to accept for the settlement of all p
Legal tender is the official medium of payment, recognized by a country's government, that creditors are legally obligated to accept for the settlement of all public and private debts. This designation grants a currency its ultimate authority and enforceability within a jurisdiction, distinguishing it from other forms of money or payment instruments.