Legal tender

Thai tong

There was no forum about Law so I didn't know where to post this.
Just one simple question, does the Irish law state that companies have to accept any legal tender? i.e Can I pay for a €1.80 Sunday times with a €500 note? Can I pay for a €200 laptop with 1000 20c coins?
If a moderator thinks this is in the wrong forum please lock this and say what forum I should post this in.

omahaid

Thai tong wrote: »

There was no forum about Law so I didn't know where to post this.
Just one simple question, does the Irish law state that companies have to accept any legal tender? i.e Can I pay for a €1.80 Sunday times with a €500 note? Can I pay for a €200 laptop with 1000 20c coins?
If a moderator thinks this is in the wrong forum please lock this and say what forum I should post this in.

If I remember my business studies course in secondary school right (which I might not ), they only have to accept certain number of coins in payment (for example). So coming in with 200*100 1c coins for a €200 item might not end well.

Thai tong

Aww I wanted to do something similar to this but with something less expensive
http://www.youtube.com/watch?v=Mzc8vS-ac-g&feature=related

highgiant1985

Thai tong wrote: »

There was no forum about Law so I didn't know where to post this.
Just one simple question, does the Irish law state that companies have to accept any legal tender? i.e Can I pay for a €1.80 Sunday times with a €500 note? Can I pay for a €200 laptop with 1000 20c coins?
If a moderator thinks this is in the wrong forum please lock this and say what forum I should post this in.

alot of shops won't accept €100 or €500 notes as well.

Riskymove

I have seen threads on boards before about this

IFIRC basically a €500 note is legal tender but shops dont have to accept that for a smaller amount

e.g. if something costs €500 they could not say a €500 is not legal tender

but if something costs €2.50 and you want to pay with a €500 note they are entitled to refuse

cruizer101

I remember hearing before that if the ammount being paid was 5% or more than the value of note it was meant to be accepted. Wherever I heard it it was quoted as law but I never checked up if it actually was or not.

thebiglad

Regardless of legal tender issue the shops have Offer and Acceptance - they do not have to sell you the item - that would be a way round the question if every note was deemed as legal tender for all levels of purchase.

andrew

There's definately a law saying that you can't pay for an item/can be refused an item of a certain value for paying with just 1c coins. I'll try to track down where I found that nugget...

Thai tong

BUMP
So anyone else got any ideas about this?
(BTW am I allowed to make bump posts?)

Seth Brundle

The shop can easily just say "we don't have change for that" and bypass any law that may be in place.
I'm sure that there is some form of provision there for shopkeepers to refuse based on suspicion/[revention of receiving a forgery

dresden8

http://www.irelandinformationguide.com/Legal_tender

However, restaurants that do not collect money until after a meal is served would have to accept any legal tender, though they would not be obliged to provide change – the restaurant is not in debt, it has been given a gift.

Do not give restaurants gifts. Dresden tip.

On other topics

No person, other than the Central Bank of Ireland and such persons as may be designated by the Minister by order, shall be obliged to accept more than 50 coins denominated in euro or in cent in any single transaction

I don't know who this site is so I can't argue for their provenance.

But, is there nobody on this site who can use google? Am I the google wizard?

My search criteria was "legal tender ireland"

Seriously, I'm not the best researcher ever, I refuse to believe it.

I'm sure Oscar and Flamed Diving would agree.

johnnyskeleton

Thai tong wrote: »

BUMP
So anyone else got any ideas about this?
(BTW am I allowed to make bump posts?)

There is a law forum called Legal Discussion. It's the forum right next to Irish Economy (link) in Soc. You could ask there.

The rule regarding accepting legal tender is more to do with satisfying obligations i.e. if you owe someone a monetary debt they can't refuse to accept cash in discharge of that debt i.e. if they sue you, you have a good defence to say that you tried to pay in cash but it was refused.

That does not, as thebiglad points out, require anyone to sell you anything.

The only other circumstances where people can't refuse to accept cash as far as I know are where they are doing so in a discriminatory way (i.e. refusing to provide services to a member of an ethnic group) and there is an old rule in some countries (I think it still exists in the US and UK, not sure about eurozone) that where you bring issued currency back to them they are required to exchange it for gold.

johnnyskeleton

dresden8 wrote: »

I don't know who this site is so I can't argue for their provenance.

though they would not be obliged to provide change – the restaurant is not in debt, it has been given a gift.

It sounds like it comes from the Bertie Ahearn school of law - sure if someone gives you money and you do them a favour, that's just two people giving each other gifts right?

dresden8

johnnyskeleton wrote: »

[/I][/B]It sounds like it comes from the Bertie Ahearn school of law - sure if someone gives you money and you do them a favour, that's just two people giving each other gifts right?

If Bertie ever went to school that is. There is no proof in his favour.

prinz

Only in America would you have 3 squad cars and did he say 7 different cops involved in what essentially is a prank. Like someone said a shop or service provider does not have to accept that under contract law, invitation to treat, offer, acceptance etc. Situation may be different in the case of fines etc, to retrieve your own property.

dresden8

dresden8 wrote: »

If Bertie ever went to school that is. There is no proof in his favour.

Hate to quote myself, but at least the LSE is not a feature anymore

Education:
St. Patrick's National School, Drumcondra;
St. Aidan's Christian Brothers, Whitehall;
College of Commerce, Rathmines;
University College Dublin.

http://bertieahernoffice.org/biography.php

No mention of his almost Nostradamus-esque* talent with the horses. Surely some mistake with the sub-editor.

*Spelling nightmare - somebody please tell me I'm right.

prinz

You're right.

Thai tong

Thanks. So it looks like either way the shop can refuse to sell me the product. I can't exchange more than 50 of the same denomination, and if I try to exchange a €500 note they can say they think it is forged (I don't have that kind of money I was thinking of the coins )
This topic can be moved/locked now.

ceret

johnnyskeleton wrote: »

that where you bring issued currency back to them they are required to exchange it for gold.

I think that was back when a lot of currency was on the <a href="http://en.wikipedia.org/wiki/Gold_standard">gold standard</a>, but nothing is any more.

You'll notice UK notes state "I promise the pay the bearer on demand twenty pound" signed by the govenor of the bank of england. In theory one could go into them and ask for your twenty pounds.