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 Post subject: Re: Is cash obsolete?
PostPosted: Tue Feb 20, 2018 10:43 pm 
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EUBanana wrote:
Lava wrote:


Pretty sure it wouldn't matter if it is or not, at least in the UK.

Money is legal tender, if you have a debt but offer to settle that debt in cash, as far as the courts are concerned the debt is settled. That's pretty much the definition of what legal tender is - "a form of payment legally recognised to be valid. Contracts aren't a universal get out of jail free card; someone can't contractually offer themselves up be sold as a slave for example, or to work below the minimum wage, even if they want to.

Depending on the amount anyway, in the UK the laws do specify amounts. I think 2p coins are only legal tender up to £1 or something, so no bringing a dump truck full of coppers to pay your rent to take the piss.

Of course, a landlord ultimately could just kick you out because they don't like the colour of your shoes, so while you might get the pleasure of making them accept hard currency, it might not be worth your while.



What the landlord could do (in the lease agreement) is say "Your monthly rent will be $xxx.xx / month. However, if you pay via direct deposit/electronic bank transfer, then you will receive a x% discount on your rent amount". In that way the landlord is not denying you cash or paper check payment, rather the landlord is incenting the behaviour that he wants from you.

At that point its up to the tenant to decide how he wants to do things.

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 Post subject: Re: Is cash obsolete?
PostPosted: Sun Feb 25, 2018 5:55 pm 
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It's put to me like this - do as we say or be evicted. Money order or electronic transfer only.

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 Post subject: Re: Is cash obsolete?
PostPosted: Mon Feb 26, 2018 11:06 pm 
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They won't accept cash b/c the gals in the office aren't the Pinkertons. Seems they'd accept a non certified check unless you've bounced a few on im. Not saying you did, you probably haven't, still weird though. If a check bounces on im, not like they don't know where to find you ;)

I'm not comfortable w/ electronic transfer either. There was a time when I had to very carefully balance who got paid and when (easier to deal w/ one big fire than a bunch of small ones...). But if companies just have their hands right in the till - I can't control the cash flow. When money is coming in it's fine no problem, but when money gets tight I want to control who gets paid priority in a crunch.

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