Re Brick & Mortar Store Goes Cashless

["Dave Farber" <dave () farber net>]

---------- Forwarded message ---------
From: Seth David Schoen <schoen () loyalty org>
Date: Fri, Feb 3, 2017 at 2:16 PM
Subject: Re: [IP] Re Brick & Mortar Store Goes Cashless
To: Dave Farber <dave () farber net>
Cc: <rha90272 () me com>


Dave Farber writes:

> From: Robert Anderson <rha90272 () me com>
>
> Dave - Hmmm.  All the paper in my wallet says, “This note is legal tender
> for all debts, public and private.” Legal but unaccepted?  What does the
> phrase even mean anymore?
>    Bob A.

Apparently it means that if you have a prior debt, the creditor can't
claim you're in default if you've tried to pay it with those notes.
This is different from the point-of-sale situation

https://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx
https://www.federalreserve.gov/faqs/currency_12772.htm

(perhaps by not viewing the retail transaction as involving a "debt" at
all?)

--
Seth David Schoen <schoen () loyalty org>      |  No haiku patents
     http://www.loyalty.org/~schoen/        |  means I've no incentive to
  8F08B027A5DB06ECF993B4660FD4F0CD2B11D2F9  |        -- Don Marti



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