Money Is Legal Tender If

question 5

Multiple Choice

Money is legal tender if:

• A)people willingly accept it in payment of debts.
• B)it is backed by gold or silver.
• C)it is commodity money.
• D)the government says it is.
• E)it is in a bank account.

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Definitions:

Cisg

The United Nations Convention on Contracts for the International Sale of Goods, a treaty providing a uniform framework for international commercial transactions.

Electricity

A form of energy resulting from the existence of charged particles such as electrons or protons, often used for power.

Statue Of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Specially Manufactured

Pertains to goods that are custom-made or tailored to the specific requirements of a buyer.