Originally Posted by
David Merrill
I presume that your direct my interest to the term negotiable.
Our original non-endorsement demanded payment in non-negotiable Federal Reserve notes. Negotiable instruments must be redeemable in equal or better value. This by deduction leaves US notes the non-negotiable instrument in America. Therefore the suitor would demand US notes in the form of FRNs.
The law above stipulates that the instruments employers use to pay employees be of a set value and that the employee not be required to discount his pay when redeeming the instrument. From the employer's perspective I do not see this having any impact on the employee's demand for lawful money.