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A $1,000 face value bond with a quoted price of 97 is selling for
Legal Tender
Currency that must be accepted if offered in payment of a debt, as decreed by a country's government.
Exact Tender
The requirement for a payment in the precise amount owed, without needing change.
Customary
Practices or actions that are accepted and expected within a particular community or society, based on traditions or long-standing use.
Frustrated
In legal terms, it refers to a contract or agreement that has become impossible to execute as initially intended due to unforeseen circumstances.
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