Which of the following is a legal tender?
ECONOMICS
WAEC 2010
Which of the following is a legal tender?
- A. bank notes
- B. bank overdrafts
- C. bills of exchange
- D. money order
Correct Answer: A. bank notes
Explanation
Legal tender is the valid money used for payment of the debt and also recognised by the law of the land. It is a negotiable promissory note which one party can use to pay another party a specific amount of money.
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