legal tender

legal tender definition - business

legal tender

The coins and currency of a country that are legally acceptable for the payment of debts and as a medium of exchange. Also called tender1.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.