A surprising first, thinking about it
A surprising first, thinking about it
Note payout today - machine spits out a Scottish tenner. At first I thought I'd been fleeced with an outer Mongolian piece of paper worth about 3p. Anyway, stuck it in another machine no problem - just never occurred to me that they could pay out haggis money, and the first time it has ever happened.
Confucius say "man who know wombat know more than stupid looking monkey"
- betchrider
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- Ruler of The World
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- betchrider
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It isn't.
But legal tender isn't really that important. Buying goods/services from shops/whatever the idea of legal tender doesn't enter the equation. People are within their rights to accept/refuse whatever sort of payment they wish.
So if you wanted you could set up a shop that didn't take sterling but only accepted euros. Silly thing to do of course but quite within your rights to do it.
Legal tender only applies to settlements of debt. Essentially if you present legal tender (in this country that's all coins up to £2 (tho 50p and less in limited amounts), and english notes) then they have to accept it. Likewise, if you owe money it can be demanded in legal tender, though of course most places/situations will accept cheques/cards/etc.
So for example that meal we had on the blackpool meet where we paid a £200ish bill in £1 coins. A debt exists. £1 coins are legal tender up to any amount. Hence they cannot refuse that payment.
But legal tender isn't really that important. Buying goods/services from shops/whatever the idea of legal tender doesn't enter the equation. People are within their rights to accept/refuse whatever sort of payment they wish.
So if you wanted you could set up a shop that didn't take sterling but only accepted euros. Silly thing to do of course but quite within your rights to do it.
Legal tender only applies to settlements of debt. Essentially if you present legal tender (in this country that's all coins up to £2 (tho 50p and less in limited amounts), and english notes) then they have to accept it. Likewise, if you owe money it can be demanded in legal tender, though of course most places/situations will accept cheques/cards/etc.
So for example that meal we had on the blackpool meet where we paid a £200ish bill in £1 coins. A debt exists. £1 coins are legal tender up to any amount. Hence they cannot refuse that payment.
- Been-Grant-Mitchell'd!
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I came back from Scotland last year with a few grand in Scottish notes & banked them here no problem.
I did get an Isle Of Man £20 note when I cashed in coins on the P&O Express from Larne and could do nothing with it. Eventually a mate who used to post on here took it to his bank, where he worked and changed it.
I did get an Isle Of Man £20 note when I cashed in coins on the P&O Express from Larne and could do nothing with it. Eventually a mate who used to post on here took it to his bank, where he worked and changed it.
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All scottish money is not really worth anything, issued by the bank of scotland, which is bust now, so its worth nothing, but its the same as any other promisary notes, only worth what people have faith in.
As for legal tender, the only uk currency that is, £1 and £2 and £5 pound coins, every thing else is in effect an IOU or bank credit.
As for legal tender, the only uk currency that is, £1 and £2 and £5 pound coins, every thing else is in effect an IOU or bank credit.