📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      Which one of the following statements correctly describes the meaning of legal tender money?

      A The money which is tendered in courts of law to defray the fee of legal cases Correct Answer Incorrect Answer
      B The money which a creditor is under compulsion to accept in settlement of his claims Correct Answer Incorrect Answer
      C The bank money in the form of cheques, drafts, bills of exchange, etc. Correct Answer Incorrect Answer
      D The metallic money in circulation in a country Correct Answer Incorrect Answer

      Solution

      Legal tender money refers to currency that must be accepted by creditors for settling debts.

      Practice Next
      ask-question