What does the legal tender requirement imply?

Question

Quizplus · Accepted Answer

The legal tender requirement means that the government has designated a specific currency, in this case the dollar, as the official medium of exchange for settling debts and making payments. This implies that people are more likely to accept the dollar, as it is legally recognized and must be accepted as payment for debts and taxes. However, it does not mean that people cannot make trades with other currencies or goods.

What Does the Legal Tender Requirement Imply