Quote Originally Posted by Robert Henry View Post
It would appear that the presumption, and hence over-complication, here is yours, Doug: "...after which the system is presumed to have the duty..."

Again, my question is; what evidence do you have of this?

What evidence do you have that anything happens in "the system", as you describe it, upon demand? What act does the teller in "the system" commit in performance of this duty you presume "them" to have, before handing me the FRN's due from the non-endorsed check I have provided them?

The redemption is IN the demand. Demand is made, therefore the notes are redeemed. Very simple. Unless one wishes to over-complicate the issue.
I have no evidence. But then that is not my concern or domain.

The only thing I need to do is properly document my demands for lawful money for all transactions, and report same on the 1040 annually.

The evidence of the demands is all that matters to me, and that it is done without "overstatement", such as saying the FRNs are already redeemed.

It seems to me that one making such a claim is also required to provide evidence of same.

Someday, such a demand for evidence may be presented. Saying the evidence is "IN the demand" may not be enough.