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Is Cash No Longer Legal Tender?

Posted by Cliff on from the plastic-now-worth-more-than-paper dept.

An anonymous reader asks: "I attend the University of Illinois at Chicago. Last semester my housing arrangements went smoothly. I put down my application fee, and my deposit just fine, got a room for the semester and life went on. This semester, because there was supposedly a large number of students who did not check into their rooms last semester, we were required to make a $100 prepayment, in addition to the application fee and deposit. No problem, I think, I see the university is trying to make a quick buck off people who don't follow through with their plans. Now I do NOT have a checking account, a credit card, or anything. I don't trust the banks, or the credit card companies, so I am one of the few people who do EVERYTHING in cash. However, they refused to take the cash. Is it legal for a state-owned university, let alone any business to not take legal tender?" The housing department also will not charge my university account (so I can pay the bursar or whoever I need to) in cash, and they want a check or money order. Nowhere in their letter did they say that. I fear out of technicality I am going to loose my housing since I cannot get them their money on time because they do not take cash.

What can I do?"

3 of 719 comments (clear)

  1. In some cases.... by Atlantis-Rising · · Score: 4, Interesting

    My understanding of the issue, although I do not specialize in this kind of law, is that your cash must be accepted for everything for which the good or service has already been provided; they are not required to accept it when you are making a payment for something you are to receive in the future.

    --
    "It is possible to commit no errors and still lose. That is not a weakness. That is life." -Peak Performance
    1. Re:In some cases.... by oggiejnr · · Score: 4, Interesting

      It is UK law that there is a maximum that can be paid with each value of coin. See question 12 of http://www.royalmint.com/RoyalMint/web/site/Corpor ate/Home/Corp_faq.asp

  2. Re:Wow... by sgant · · Score: 4, Interesting

    For some reason, this guy doesn't trust banks and does everything in cash. What makes you think he's gonna trust the post office and all their new-fangled machines that do their witchery?

    I'm just saying...

    --

    "Leo Fender was in a 'state of grace' when he designed the Stratocaster." -- Paul Reed Smith