[B] The money a creditor must accept to settle his claims Which of the following statements correctly describes the meaning of legal tender? [C] Bank money in the form of cheques, bills of exchange, bills of exchange, etc. Legal tender is a method of payment protected by law. Legal tender is also called mandatory tendering, which is very safe, and it is impossible to reject legal tender while lowering a debt ceded in the same medium of exchange. Q. Consider the following statements regarding legal tender: Legal tender is any officially recognized legal tender that can be used to repay public or private debts or to meet a financial obligation. A creditor is obliged to accept legal tender to repay a debt. Legal tender can only be awarded by the national body empowered to do so Which of the following statements correctly describes the meaning of legal tender? निम्नलिखित में से कौन सा कथन कानूनी निविदा धन के अर्थ का सही वर्णन करता है? Which of the above statements is/are correct? In other words, the term legal tender does not represent money itself, but is a kind of status that can be conferred on certain types of money.