Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/96051
Authors: 
Goldberg, Dror
Year of Publication: 
2009
Series/Report no.: 
Working Papers, Bar-Ilan University, Department of Economics 2009-04
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.
Subjects: 
Legal tender
Contract law
Taxes
JEL: 
E42
K12
Document Type: 
Working Paper

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