Fuel Rationing??

[Scooby074]

I have wondered about that too. Suppose you had a bill for 60$, paid with a $50 and a $10. If they complain about the $50, couldn't you just say 'take it or leave it'?

Dave.

Thats what im wondering about.. What are you to do if you only have a 50? I understand they can refuse credit cards, as they arent legal tender.

Im not a lawyer, but i think youd be legally protected if you had a 50 and said take it or leave it... just dont want to go there.

On the bills, the new 20's 5's and 10's (i think), all have an insert of "plastic" running through them. Some countries have adopted plastic bills where there is no paper at all. Ive read there very durable... not sure about the static

 

[aczlan]

Some countries have adopted plastic bills where there is no paper at all. Ive read there very durable... not sure about the static

In Argentina, many of the bills have a holographic strip with the amount of the bill written on it. That way you cannot re-dye it and make a larger bill from a small one.

Aaron Z

 

[Scooby074]

In Argentina, many of the bills have a holographic strip with the amount of the bill written on it. That way you cannot re-dye it and make a larger bill from a small one.

Aaron Z

Our bills already have it. Heres a current $20. Notice the hologram strip on the left with the denomination (the "plastic" strip in the above post) and the strip on the right hand side that looks like the tear strip on a pack of cigarettes.

Heres the new design that Dave alluded to. Personally i dont like it.. too much "plastic". Apparently the entire bill is "plastic" with clear windows. No more paper.

 

[clemsonfor]

Different CC prices from cash is supposedly illegal, or at least it was before the CARD bill was passed, from what i understand. That dosent mean it did not happen. There is a business i use from time to time that always gives a "cash" discount. If you know what i mean.

 

[rd_macgregor]

I always thought that US cash was good "for all debts, public and private". Maybe things have changed in the twenty-four years I've been in Canada, though.

Anti-theft vigilance of credit card companies is a good thing, most of the time, but it can be a hassle when you are travelling...like the time the CC company at having me buy gas in four different provinces in the same day.

By the way (for those of you uncomfortable with how the government is handling its finances), I just saw this short article in today's (Toronto) Globe and Mail, with some good, if not very cheering, stats about public and private indebtedness in US and Canada: A debt disaster by whatever measure you use - The Globe and Mail

BOB

 

[Bird]

Different CC prices from cash is supposedly illegal, or at least it was before the CARD bill was passed, from what i understand. That dosent mean it did not happen. There is a business i use from time to time that always gives a "cash" discount. If you know what i mean.

I don't know of any law making it illegal, but I do know there was a time when at least some credit card companies' contracts required merchants to agree to not charge more for using the credit card. But if a price was established, they were not prohibited from offering a "cash" discount. And if that wording sounds like it was written by lawyers . . .:laughing:

 

[clemsonfor]

I don't know of any law making it illegal, but I do know there was a time when at least some credit card companies' contracts required merchants to agree to not charge more for using the credit card. But if a price was established, they were not prohibited from offering a "cash" discount. And if that wording sounds like it was written by lawyers . . .:laughing:

It had something to do with being unfair to CC companies with them being penalized at a higher price. I heard in on NPR which about half the population takes for the gospel so you know it must be true.

 

[dmccarty]

I don't know of any law making it illegal, but I do know there was a time when at least some credit card companies' contracts required merchants to agree to not charge more for using the credit card. But if a price was established, they were not prohibited from offering a "cash" discount. And if that wording sounds like it was written by lawyers . . .:laughing:

I remember when most gas stations had a low price for cash and a higher price for CCs.

The WSJ had a story last night about the fees charged by the CC companies to retailers. One thing they mentioned was that the contract with the CC company prevented the retailer from having different prices for cash and credit payments.

Course, many companies have two prices. It is up to the CC company to enforce the contract.

Another part of the report was that the recently passed law was lowering fees charged by the CC, to the retailer, for cash advances. As a result, the CC companies will be lowering the amount of cash back at checkout.

It has been a few years, ok decades, since I have read the law on taking cash, but paper money is legal tender and the merchant HAS to take it. The exception was for coins. There was some small amount, less than a dollar, that the merchant did NOT have to take as payment. Seemed silly to me, but it was in the law way back when.

The store can say they do not want a $50 bill, but if they refuse to take the payment for the gas in the tank, that is their problem. Resolving said dispute could be interesting.

Later,
Dan

 

[ultrarunner]

It actually happens... Apple Computer refused to take cash for the I phone and not uncommon for car rental companies to decline cash as Airlines in some cases...

My biggest problem came when I was closing on my Home... the Title Company refused to take Cash...

Oddly-enough, there is NO U.S. Federal law that mandates a person, organization or merchant (which would include a retailer or collection agency) accept coins (rolled or otherwise), as payment for goods and services, even though coins are considered 'legal tender' as stated in the Coinage Act of 1965.

How is this possible?

Simple. Though it seems strange, the dollars and coins struck and printed by the U.S. Treasury are for the FEDERAL RESERVE SYSTEM. The Federal Reserve System MUST HONOR US currency and coins...however, not necessarily anyone else.


Link to U.S. Treasury FAQ's:


http://www.ustreas.gov/education/faq/currency/legal-tender.html#q1




Can Businesses Refuse to Accept Cash? : Legal Lad :: Quick and Dirty Tips

 

[aczlan]

It actually happens... Apple Computer refused to take cash for the I phone and not uncommon for car rental companies to decline cash as Airlines in some cases...

I work for a hotel and we do not accept cash unless there is a credit card on file for the room or we know the guest well. Why? That way if someone trashes the room, smokes in it or has a pet in there, we can get our cleaning fee.

Aaron Z