Mains Ready By December. Smash Mains & Smash PYQ Admissions Open

Economics › RBIxFunctions

Economics › RBIxFunctions

Which one of the following statements correctly describes the meaning of legal tender money ?

Options

(a)

The money which is tende ed in courts of law to defray the fee of legal cases

(b)

The money which a creditor is under compulsion to accept in settlement of his claims

(c)

The bank money in the form of cheques drafts, bills of exchange, etc.

(d)

The metallic money in circulation in a country

Answer

(B)