Question

what is non legal tender Money​

Answer 1

Answer:

Bills of exchange, bank drafts, postal orders, and cheques are examples of non-legal tender money. These types of money are usually accepted but legally there is no obligation to accept them. Whether it is accepted or not is the choice of lender, seller or creditor.

Answer 2

• Non-Legal Tender-Money: It is a form of money, which is generally accepted, but legally is not bound to accept it. Such as cheques, bank drafts, bills of exchange, postal orders etc. are not legal tenders and are accepted only at the option of the creditor, lender, or seller.
• Cheques, bills of exchange, demand draft are example of non legal tender money.

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