If a nation agreed to trade with something other than money, like shells or certain stones, would that be legal tender?

Question

Responses

Yes, if business owners agreed.

No, legal tender must be paper money.

Yes, if everyone was required to accept it.

No, legal tender must be accepted in all nations.

Answer 1

The correct response would be:

Yes, if business owners agreed.

Legal tender refers to money that must be accepted if offered in payment of a debt. However, the concept of trade can also extend to other forms of currency or barter. If a community or nation agrees to use something other than traditional currency (like shells or certain stones) in trade, and all parties consent to accept those items as payment, then it can function as a form of legal tender within that specific context.