Sentences with phrase «is legal tender for»

Cash is legal tender for all debts public and private which means the university can not refuse.

Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code 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...

Not exact matches

She asked them to consider a safe harbor for virtual currency startups, and to consider only regulating exchanges that change so - called fiat currencies — or legal tender that's not backed by physical commodities like gold — into virtual ones.

In order for bitcoin to be a real currency, Adeney claims, it must be three things: easy and frictionless for trading between people, widely accepted as a legal tender for all debts (both public and private) and stable in terms of value.

Sweden could eventually «reach a situation where legal tender is no longer an efficient medium of exchange for commercial transactions and that it is a situation that no other country has been in before,» Skingsley said.

All accept dollars because the U.S. government declares those to be «legal tender for all debts public and private.»

At only two pages, the concise bill is not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.&raquis not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.&raquIs used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.&raquIs not recognized as legal tender by the United States government.»

The Bank of Israel and the ministry stress that digital currencies are not legal tender, nor are they issued or backed by a central bank, which means there is not legal requirement for anyone to accept or exchange them.

Bitcoin is not legal tender, so it should not be just another revenue stream for the state.

The watchdog based its decision on the fact that it does not consider digital currencies to be a substitute for money, as they are not legal tender in the country.

Finance minister going all out against Bitcoin and other cryptocurrencies is definitely a reason for grave concern for the Indian cryptocurrency investors as he said that the government does not consider these virtual currencies as a legal tender.

For small business owners contemplating adding alternative payment solutions to their menu of legal tender, consider these tips: Don't be intimidated Just because the payment solution you're offering is not the tried - and - true standard exemplified by cash or credit, that doesn't mean its implementation will be difficult.

On February 25, 1862, the Greenbacks were made legal tender for all public and private debts, replacing the Treasury notes that had been redeemable in coin since 1812.

On 5 December 2013, the People's Bank of China announced in a press release regarding bitcoin regulation that whilst individuals in China are permitted to freely trade and exchange bitcoins as a commodity, it is prohibited for Chinese financial banks to operate using bitcoins or for bitcoins to be used as legal tender currency, and that entities dealing with bitcoins must track and report suspicious activity to prevent money laundering.

Russian president Vladimir Putin publicly said cryptocurrencies had «serious risks,» and yet he just called for the development of a new digital currency, the «cryptoruble,» which will be used as legal tender throughout the federation.

They only assume you are hungry and have legal tender to pay for what you order.

«Mr Douglas Carswell (Clacton)(Con): I beg to move, That leave be given to bring in a Bill to amend the Currency and Banknotes Act 1954 to allow banknotes in addition to those issued by the Bank of England to be legal tender; and for connected purposes.

-LSB-...] all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor.

As well, only legal - tender coins produced by the Royal Canadian Mint are eligible for RRSP gold investing.

Upon further reflection you spelled it «cheque» which means these coins are not legal tender for you.

would not be surprised even if treasuries become legal tender for debt settlement.

In fact, the return of capital via a tender offer should also provide further reassurance: Shareholders could be unfairly penalised if they accepted a tender offer based on incomplete info, and / or an NAV per share that did not represent market values for all assets (& liabilities)-- potentially exposing the board / company to legal action.

A check is not legal tender for debts public and private.

Yes, U.S. currency of any denomination is «legal tender FOR ALL DEBTS, public and private.»

Treasury notes had full legal tender status and were not convertible into gold through the Bank; they replaced the gold coin in circulation to prevent a run on sterling and to enable raw material purchases for armament production.

A new # 1 coin, dubbed the most secure coin in the world, has become legal tender in Britain today, but it won't be in full circulation for a few weeks.

Many important elements of policy support for renewable energy are common across all regions and incomes, including renewable energy targets and action plans, primary legislation and legal private ownership of generation, and financial and regulatory incentives like feed - in tariffs or competitive tenders.

The Law Society is threatening legal action against the Legal Services Commission (LSC) over its plans to introduce tendering for very high cost cases (VHlegal action against the Legal Services Commission (LSC) over its plans to introduce tendering for very high cost cases (VHLegal Services Commission (LSC) over its plans to introduce tendering for very high cost cases (VHCCs).

c) Unless the evidence of a lawyer is being tendered as expert testimony on the motion, it is not appropriate for an affidavit to contain legal opinions or argument.

The proposals, if implemented, will have the effect that many migrants and prisoners will no longer be eligible for legal aid; access to judicial review will be restricted; contracts for criminal work will be the subject of competitive tendering; and fees paid to legal aid solicitors and barristers will be reduced, by more than 50 % in some instances.

The subject of the meeting will be competitive tendering (BVT) for criminal legal aid contracts.

In October 2015, the Legal Aid Agency considered all the tenders that had been submitted for criminal legal aid duty contrLegal Aid Agency considered all the tenders that had been submitted for criminal legal aid duty contrlegal aid duty contracts.

It's going to discuss the outcome of the criminal legal aid tender as well as hearing from the director of Rights of Women about the domestic violence evidence criteria for legal aid.

«The LSC has accepted the need to work a more realistic timetable; the pilot means that should BVT ultimately be given the green light, legal aid providers will now have much more time to prepare for the tendering process.»

Plans to introduce best value tendering (BVT) for criminal defence services in October have been scrapped by the Legal Services Commission (LSC) following fierce opposition from stakeholders.

However, tendering a written argument at the hearing is neither an alternative to, nor a substitute for, setting out the «Legal Basis» in a notice of application or an application response in accordance with what the Rules and the case law require.

Ben was responsible for the legal operations of numerous contractor and sub-contractor entities and was able to support and assist multiple internal departments from tender stage to project completion.

Fortunately, such were the problems with the duty tenders, at least for this Parliament competitive tendering for criminal legal aid is unlikely to be resurrected, but a further clash with criminal legal aid firms is on the horizon.

For the Legal Action Group (LAG), and other legal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between fLegal Action Group (LAG), and other legal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between flegal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between firms.

According to Potter there was «strong evidence of inconsistencies in how the tender applications were marked for the same firms in different areas» (March 2016, Legal Action, p 4).

Successive legal aid administrators have been attracted to the idea of putting duty work for police and magistrates» court work out to tender.

Concerns about Lord Carter's proposals to reduce the # 2bn legal aid budget and introduce price - competitive tendering will also be discussed by society members at a special general neeting on legal aid on 17 January, after Southampton solicitor, Roger Peach, rallied support for direct action.

The lawyers advise that currently many SMEs are effectively barred from tendering for contracts, worth up to # 12 million, due to not having in - house legal resources to support a tender plus costs of employing external lawyers.

A consultation on the principles of best value tendering (BVT) for criminal defence services, and a policy paper — Assuring and Improving Quality in the Reformed Legal Aid System — have been published by the Legal Services Commission (LSC).

The tender document says: «We would like to encourage prospective bidders who are forward thinking, committed to innovation and who are open to alternative ways of delivering our requirement for a full legal service.»

The claimant, Hersi & Co Solicitors, was a law firm which participated in a tender for panel firms to supply immigration and asylum and mental health work to the Legal Services Commission, the predecessor to the Legal Aid Agency in the London area.

The tendering process for the new criminal legal aid contracts was put on hold by the Administrative Court, following an application for interim relief by the LCCSA and CLSA.

For example, Ecuador adopted the U.S. dollar as legal tender in 2000 after the Ecuadorian - issued currency, the sucre, depreciated rapidly such that $ 1 was worth 25,000 sucres.

What this statute means, in the words of the United States Treasury, is that» [A] ll United States money... is a valid and legal offer of payment for debts when tendered to a creditor.

The result of the recent tender round for criminal contracts is not yet known but the Legal Services Commission (LSC) is reporting a good response and is confident of 100 % national coverage for duty schemes.