Economy

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2018 · Question 46 · Money and Currency
Which one of the following statements correctly describes the meaning of legal tender money ?
Choose your answer(a)The money which is tendered in courts of law to defray the fee of legal cases(b)The money which a creditor is under compulsion to accept in settlement of his claims(c)The bank money in the form of cheques, drafts, bills of exchange, etc.(d)The metallic money in circulation in a country
Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)