legal tender

Definition

A country's currency that must be accepted as payment for a debt.

Use legal tender in a sentence

You should always know which legal tender the other party will deal with if doing your business over seas.

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The legal tender for the United States is the dollar bill which is mostly green and exactly 6.14 inches long.

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Even though our currency is not backed by gold or specie, it is still considered legal tender because Americans accept it for goods and services.

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