<< <i> This statement is not correct. There is no such rule.
This statement is incorrect also. It is not illegal to refuse to take large bills. They don't have to say anything except that they will not take it. There is nothing illegal about refusing to take large bills, or any bills for that matter, anywhere in the USA. However if the merchant wants payment in something other than US bills then they SHOULD say so before purchases are made. However this is not an absolute requirement. >>
Actually in NYC it is a city council rule, just like in NYC it is against the law to have a phone number, advertising, or anything else beside the name of a store on your store front awning. Yet I look outside my window and every sign, except for Dunkin Donuts is in violation. Unless the council changed the rule again it should be a fineable offense.
OFF-Topic: For anyone visting NYC today the just passed the law making it illegal for dogs to bark more than 10 minutes and ice cream trucks to play music.
Actually in NYC it is a city council rule, just like in NYC it is against the law to have a phone number, advertising, or anything else beside the name of a store on your store front awning.
I do not know if a city council rule is a law, and i don't think that even if it is, somehow, that it is enforcable.
<< <i>I do not know if a city council rule is a law, and i don't think that even if it is, somehow, that it is enforcable. >>
It is fineable it is $3200 to $8000 for a noise fine. The awning fine is about $2500. Back when I was in high school the refusing large notes fine was $75 per incident, I'm not sure if the rule/law changed.
OFF-Topic: For anyone visting NYC today the just passed the law making it illegal for dogs to bark more than 10 minutes and ice cream trucks to play music. >>
YES!! Finally NY is taking a STAND!! I hope next week it is illegal for babies to cry!!
Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if:
more than 50% of a note identifiable as United States currency is present; or, 50% or less of a note identifiable as United States currency is present, and the method of mutilation and supporting evidence demonstrates to the satisfaction of the Treasury that the missing portions have been totally destroyed. >>
This rule has to do with returning damaged bills for replacement from the Treasury. This doesnt have anything to do with pasing a bill.
In order to spend a bill, 3/4 of the bill must be present. The idea is to be able to see that the bill has not been split in such away as to create the possibility that the same bill can be passed twice. You need one full serial number and half of the other.
I am not a lawyer, but it is my understanding that The garage attendant was actually in violation of the law as the bill is legal for all debts public and private.
Someone offered an argument that the payment wasnt accepted or the service was not rendered. That makes no difference. The guy was willing to take the 5 and the 10 dollar bills which set up an implied agreement to accept the rest of the payment for the service.
Had the garage been full and the attendant accepted no money, the attendant would have been within his rights to turn away a payment but not on the grounds that the money was not acceptable.
The next time that happens, call a Treasury Agent to the scene to straighten it all out for you:-) Yeah Right!
Had a guy call & ask if he could set an appointment with some coins today, I said come down I am in the office now. He asks if I would buy these coins I tell him they are worth very little, he asks how little I just got paid with these for a $150 bill that was discounted by half so it would have been $300. bill for Cleaning a pool replacing filters & some other repairs the person spoke no english just handed him the coins when he presented the bill that had been pre agreed to by another family member who was not at home then, he said no I need a check the person insisted this was his pay. He calls the Police they tell him it is a civil matter, he then calls me after he leaves the job. I told him I didnt want the coins they were worth about $5.00 & a coin shop down the street would buy them, he said I wasted enough time please give me $5.00 so I did. He told me they have this nice big home & pool then rip him off playing the no speak english, bet that wouldn't happen if things were reversed & he pulled that in whatever country they come from.
Most dealers Grading was new or used when I started & most still didn't get it right.
Any time they feel like it. There is no law on the books requiring a merchant to accept US currency or coins as payment.
One can take the stance that an FRN is not even real money. It is not sanctioned by the constitution, which identfies what real money is and who can make it.
Comments
<< <i>
This statement is not correct. There is no such rule.
This statement is incorrect also. It is not illegal to refuse to take large bills. They don't have to say anything except that they will not take it. There is nothing illegal about refusing to take large bills, or any bills for that matter, anywhere in the USA. However if the merchant wants payment in something other than US bills then they SHOULD say so before purchases are made. However this is not an absolute requirement. >>
Actually in NYC it is a city council rule, just like in NYC it is against the law to have a phone number, advertising, or anything else beside the name of a store on your store front awning.
Yet I look outside my window and every sign, except for Dunkin Donuts is in violation.
Unless the council changed the rule again it should be a fineable offense.
OFF-Topic: For anyone visting NYC today the just passed the law making it illegal for dogs to bark more than 10 minutes and ice cream trucks to play music.
My TV Blog
I do not know if a city council rule is a law, and i don't think that even if it is, somehow, that it is enforcable.
<< <i>I do not know if a city council rule is a law, and i don't think that even if it is, somehow, that it is enforcable. >>
It is fineable it is $3200 to $8000 for a noise fine.
The awning fine is about $2500.
Back when I was in high school the refusing large notes fine was $75 per incident, I'm not sure if the rule/law changed.
My TV Blog
<< <i>
OFF-Topic: For anyone visting NYC today the just passed the law making it illegal for dogs to bark more than 10 minutes and ice cream trucks to play music. >>
YES!! Finally NY is taking a STAND!! I hope next week it is illegal for babies to cry!!
<< <i>United States Treasury Bureau of Engraving and Printing
Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if:
more than 50% of a note identifiable as United States currency is present; or,
50% or less of a note identifiable as United States currency is present, and the method of mutilation and supporting evidence demonstrates to the satisfaction of the Treasury that the missing portions have been totally destroyed. >>
This rule has to do with returning damaged bills for replacement from the Treasury. This doesnt have anything to do with pasing a bill.
In order to spend a bill, 3/4 of the bill must be present. The idea is to be able to see that the bill has not been split in such away as to create the possibility that the same bill can be passed twice. You need one full serial number and half of the other.
I am not a lawyer, but it is my understanding that The garage attendant was actually in violation of the law as the bill is legal for all debts public and private.
Someone offered an argument that the payment wasnt accepted or the service was not rendered. That makes no difference. The guy was willing to take the 5 and the 10 dollar bills which set up an implied agreement to accept the rest of the payment for the service.
Had the garage been full and the attendant accepted no money, the attendant would have been within his rights to turn away a payment but not on the grounds that the money was not acceptable.
The next time that happens, call a Treasury Agent to the scene to straighten it all out for you:-) Yeah Right!
Have Fun,
Bill
myurl http://www.foundinrolls.com
<< <i>This doesnt have anything to do with pasing a bill. >>
I didn't say it did. I posted in response to this:
<< <i>I believe 75 % of the note has to be present for exhange with the fed. >>
One can take the stance that an FRN is not even real money. It is not sanctioned by the constitution, which identfies what real money is and who can make it.
roadrunner