2006-12-05 21:01:44 · 3 answers · asked by Callisto 2 in Politics & Government ➔ Law & Ethics
"In short ‘No’ these [Scottish or Northern Irish] notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales.
The term legal tender does not in itself govern the acceptability of banknotes in transactions. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for agreement between the parties involved. Legal tender has a very narrow technical meaning in relation to the settlement of debt. If a debtor pays in legal tender the exact amount he owes under the terms of a contract, he has good defence in law if he is subsequently sued for non-payment of the debt. In ordinary everyday transactions, the term ‘legal tender’ has very little practical application."
2006-12-05 21:25:40 · answer #1 · answered by Mordent 7 · 1⤊ 0⤋
No. It is not illegal; but it may be foolish to refuse the business (unless you are suspicious about the notes).
I was surprised to be told recently that NO notes are legal tender in England (or the rest of the UK). Nobody can be forced to receive them! Except, of course, the issuer -- to pay taxes I suppose. http://en.wikipedia.org/wiki/Legal_tender (Wiki)
2006-12-06 05:28:35 · answer #2 · answered by Anonymous · 2⤊ 0⤋
i thought all of UK uses the same currency - pound sterling
2006-12-06 05:10:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋