Topic: What does "legal tender" mean anyway? - page 2. (Read 11956 times)
When a currency is made legal tender, everyone is legally required to accept it for the repayment of debt. This includes things like eating a meal at a restaurant, since the meal is gone by the time the check arrives, you are in debt and they are required to accept USD. However, if I'm buying a pack of cigarettes from the gas station, they can refuse USD and demand that I pay in gold or BTC, since I am under no obligation to complete the transaction.
I know I could check in Wikipedia or something, but I'd like to have your view on this first.
I suspect it doesn't actually mean much.
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