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Legal Tender

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Author Info

  • Dror Goldberg

    ()
    (Department of Economics, Bar Ilan University)

Abstract

The legal foundation of the monetary system is the law of legal tender. The “legal tender” concept is used in models to describe almost anything except for what it really means in actual laws. Such errors prevent an accurate evaluation of the importance of this legal status. This note explains in simple terms what “legal tender” really means.

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File URL: http://www.biu.ac.il/soc/ec/wp/2009-04.pdf
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Bibliographic Info

Paper provided by Bar-Ilan University, Department of Economics in its series Working Papers with number 2009-4.

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Date of creation: Apr 2009
Date of revision:
Handle: RePEc:biu:wpaper:2009-4

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Postal: Faculty of Social Sciences, Bar Ilan University 52900 Ramat-Gan
Phone: Phone: +972-3-5318345
Fax: +972-3-7384034
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Web page: http://www.biu.ac.il/soc/ec
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Related research

Keywords: Legal tender; Contract law; Taxes;

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. What is legal tender
    by Economic Logician in Economic Logic on 2010-04-16 14:42:00
  2. Weekly Roundup: #74 -The Smartest Linkfest On The Web!
    by Miguel in Simoleon Sense on 2010-04-18 19:47:02

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  1. Economic Logic blog

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