Question

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Answer 1

Answer:

Limited legal tender money is the money which can be accepted only up to a certain maximum limit. for e.g. In India one paise coin to 25 paise coin are legal tender up to Rs 25. One can refuse payments in these small coins beyond sum of Rs 25.

Unlimited legal tender money is the money which a person has to accept without any limit of amount. For example all currency notes and coins of 50 paise are unlimited legal tender money

Explanation:

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Answer 2

Answer:

Limited legal tender: You can make money settlement/repay your debt in coins upto 1000 rupees only beyond which accepting party can reject.

Unlimited legal tender: You can make money settlement/repay your debt in notes legal tender upto any value.

                                                    OR

Limited legal tender money is the money which can be accepted only up to a certain maximum limit. for e.g. In India one paise coin to 25 paise coin are legal tender up to Rs 25. One can refuse payments in these small coins beyond sum of Rs 25.

Unlimited legal tender money is the money which a person has to accept without any limit of amount. For example all currency notes and coins of 50 paise are unlimited legal tender money.