lawful money


Definition of lawful money

1a : any money whether coin or currency that may by the laws of a country be circulated as a medium of exchange — compare legal tender
b : any money recognized in a community as a medium of exchange
2 : money (such as bank reserves) designated as acceptable for a particular purpose

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History and Etymology for lawful money

Middle English laweful moneye, from laweful + moneye money

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Cite this Entry

“Lawful money.” Dictionary, Merriam-Webster, Accessed 24 Jan. 2021.

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