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Money that a creditor must by law accept in payment for debts is called ___

User Deegriz
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1 Answer

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Answer:

Legal Tender, is the right answer.

Step-by-step explanation:

Legal tender is a means of payment approved by a legal order to be adequate for meeting a monetary commitment. Every authority concludes what is legal tender, but typically it is anything which when submitted (“tendered”) in retaliation of a debt extinguishes the obligation. There is no commitment on the lender to affirm the offered payment, but the mortgage is nonetheless discharged.

User Supun Praneeth
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