legal tender

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Denomination of a country's currency that, by law, must be accepted as a medium for commercial exchange and payment for a money debt. While usually all denominations of the circulating paper money are legal tenders, the denomination and amount in coins acceptable as legal tender varies from country to country. Checks and postal orders are not legal tenders and are accepted only at the option of the creditor, lender, or seller. Also called lawful money.

Use 'legal tender' in a Sentence

The legal tender was able to be exchanged for goods and services in the region so we took advantage of its acceptance.
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Although the United States government no longer prints some types of money, such as silver dollars, they are still legal tender and can be spent at any store.
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I explained to him that the legal tender was inescapable and had to be honored, which made the man really angry and upset with me.
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