MEDIUM OF EXCHANGE

By SovConn | June 2, 2013

medium of exchange.Anything generally accepted as payment in a transaction and recognized as a standard of value <money is a medium of exchange>. Cf. EXCHANGE(2);

CURRENCY; LEGAL TENDER. [Cases: Payment 9–12. C.J.S. Payment §§ 10–13, 26.]

[Blacks Law 8th]

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