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Thread: Paying With A Hundred Dollar Bill? Prepare To Fill Out A Form

  1. #1

    Paying With A Hundred Dollar Bill? Prepare To Fill Out A Form

    A very interesting article I came across.....especially in the replies about legal tender.....http://www.zerohedge.com/news/2013-0...ut-form?page=1

  2. #2
    Since there is no money - only debt notes - it makes good sense for people to try and gather information about debtors. An interesting conversation could happen between the restaurant and someone using redeemed lawful money. I'd love to be there, if it happens.

  3. #3
    Quote Originally Posted by sam charles View Post
    A very interesting article I came across.....especially in the replies about legal tender.....http://www.zerohedge.com/news/2013-0...ut-form?page=1

    That just means my dinner is free to me. As soon as the cashier sees that I am sure they would accept my bill.

    Of course you are not required to fill out the form.


    Thanks for showing us the article and comment by Tyler there. I think that Tyler's head is a little cluttered by conditioning on this particular issue. The obligations to perform are on the bills. There is no obligation for me to perform. However I do keep a Treasury Pen - so I call it. I process my $100 bills when people pay me. That way I do not pass any counterfeit bills.


    Since there is no money - only debt notes - it makes good sense for people to try and gather information about debtors. An interesting conversation could happen between the restaurant and someone using redeemed lawful money. I'd love to be there, if it happens.
    That was in the back of my mind while writing above.

    Having the bills stamped might help explain that the obligations to perform are solely with the US Treasurer and Secretary. The only possible obligation to perform would be if there is a NOTICE somewhere for customers to be expected to read on the way in before being seated or on the menu.

  4. #4
    Quote Originally Posted by sam charles View Post
    A very interesting article I came across.....especially in the replies about legal tender.....http://www.zerohedge.com/news/2013-0...ut-form?page=1
    My first question is, "Can they do that"?

    Can they legally do that?

    We'd have to take such a case through probation to see if they can do that.

    Now, I believe a place of business can limit what denominations of legal tender are accepted.
    As far as demanding the personal info from the payor, that's a question in need of answering.

    Most are going to quietly acquiesce to the demand.
    Hopefully, someone with some guts will take up the question .

  5. #5
    Quote Originally Posted by shikamaru View Post
    My first question is, "Can they do that"?

    Can they legally do that?

    We'd have to take such a case through probation to see if they can do that.

    Now, I believe a place of business can limit what denominations of legal tender are accepted.
    As far as demanding the personal info from the payor, that's a question in need of answering.

    Most are going to quietly acquiesce to the demand.
    Hopefully, someone with some guts will take up the question .
    My feeling is sure they can do that! They can do that for pennies if they like. There is nothing to enforce it with. Possibly if they put up a Notice they will be requiring it they could enforce the contract a little... But even then?

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    I'm with you. Of course they can do that. They can enforce it too, simply by requiring prepayment. But talk about a public relations nightmare.

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    Taco Bell just puts up a Notice that you cannot pay with anything larger than $20 bills.

  8. #8
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    Quote Originally Posted by David Merrill View Post
    Taco Bell just puts up a Notice that you cannot pay with anything larger than $20 bills.
    The difference with Taco bell is you have to pay before you get your food. (if you call taco bell food)
    Legal tender can not be refused for payment of debt.
    Legal tender can be refused for consideration pre debt contract/order.

    If the restaurant stated before you ordered that they would not be accepting legal tender then they have the law on their side.
    If they tell you after you ate the food, then the law states they have to accept legal tender.

    A place of business does not have to give change to legal tender.
    Meaning they give change to be nice and get return business.
    When paying a debt with legal tender you have the responsibility to pay with the correct amount and make change yourself.
    The shop does not have that responsibility by law.

    So if you had eaten a meal that cost $55 at the restaurant and go to pay with a one hundred dollar bill, and the shop did not post that they do not accept them as payment before you ate the meal, the shop has to accept your one hundred dollar bill as payment. But they do not have to give change.

  9. #9
    Quote Originally Posted by walter View Post
    The difference with Taco bell is you have to pay before you get your food. (if you call taco bell food)
    Legal tender can not be refused for payment of debt.
    Legal tender can be refused for consideration pre debt contract/order.

    If the restaurant stated before you ordered that they would not be accepting legal tender then they have the law on their side.
    If they tell you after you ate the food, then the law states they have to accept legal tender.

    A place of business does not have to give change to legal tender.
    Meaning they give change to be nice and get return business.
    When paying a debt with legal tender you have the responsibility to pay with the correct amount and make change yourself.
    The shop does not have that responsibility by law.

    So if you had eaten a meal that cost $55 at the restaurant and go to pay with a one hundred dollar bill, and the shop did not post that they do not accept them as payment before you ate the meal, the shop has to accept your one hundred dollar bill as payment. But they do not have to give change.
    Interesting thought. Is that Trebilcock v. Wilson?

  10. #10
    One also has the right to pay once they are able to obtain change. Just be sure to express your intent to pay. ;-)

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