Legal Seminar, Denver, CO
Cash and Cashlessness • Cash was an innovation in its time! • Fiat currency as legal tender.
– 31 USC 5103: “United States coins and currency … are legal tender for all debts, public charges, taxes, and dues.” – States may have their own rules, but this law does not prevent private ordering by merchants. • E.g. United Airlines requires a payment card onboard • Some businesses experimenting with cashlessness • Cashless trends occurring outside US, too.
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