From: Tom Moore 
Newsgroups: uk.finance uk.legal
Subject: Re: can you insist on your salary being paid to you in cash?
Date: 2 Nov 2003 14:58:21 GMT

Ronald Raygun  wrote:

> I don't think they're met with cash, no, but I think
> that's because the payees don't insist on Legal Tender.
> It's a matter of practicality rather than law.

Indeed, but that is the point:  if one agrees to sell a house, and house 
prices double, are you saying one can renege on that contract by insisting 
on payment in Legal Tender.  The largest denomination of notes issue by the 
Bank of England is £50.

As to proving my case, I can't.  The references you will find, do make 
clear that particular notes and coins cease to be legal tender as the sum 
in question changes.  You cannot insist of paying a bill over £100 with 1p 
coins:  they're not Legal Tender for that.  Chancellor Norman Lamont is 
even on Hansard as saying Legal Tender is an extremly complex subject, but 
that tends to repeat the question.

Once £50 notes are impracticable, perhaps for sums over £50 000, is there 
no Legal Tender?  I have a feeling SIs are not on the Parliament web site 
(yet).

Sorry.
-- 
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