Judgment Search Results Home > Cases Phrase: bronze coin legal tender act 1918 Page 1 of about 16,072 results (0.189 seconds)

Hepburn Vs. Griswold

Court : US Supreme Court

..... trade, and the facility with which the government borrowed, in two or three years, at reasonable rates of interest, mainly from its own citizens, double the amount of money there was in the county, including coin, bank notes, and the notes issued under the legal tender acts. ..... for no one will question that the united states notes which the act makes a legal tender in payment are essentially unlike in nature, and, being irredeemable in coin, are necessarily unlike in value, to the lawful money intended by parties to contracts for the payment of money made before ..... february, 1862, all contracts for the payment of money, not expressly stipulating otherwise were, in legal effect and universal understanding, contracts for the payment of coin, and under the constitution, the parties to such contracts are respectively entitled to demand and bound to pay the sums due, according to their terms, in coin, notwithstanding the clause in that act and the subsequent acts of like tenor, which make united states notes a legal tender in, payment of such debts. ..... section of the act, as follows: "and such notes, herein authorized, shall be receivable in payment of all taxes, internal duties, excises, debts, and demands of every kind due to the united states except duties on imports, and of all claims and demands against the united states of every kind whatsoever, except for interest upon bonds and notes, which shall be paid in coin, and shall also be lawful money and a legal tender in payment of .....

Ram Kishan Sunder Lal and anr. Vs. the State of Uttar Pradesh and anr.

Court : Allahabad

Reported in : [1962]13STC923(All)

..... under the authority of this act in any denominations of annas, pice and pies shall, to the extent specified in section 13, be a legal tender in payment or on account at the rate of sixteen annas, sixty-four pice or one hundred and ninety-two pies, to one hundred new coins referred to in sub-section (1), calculated in respect of any such single coin or number of such coins, tendered at one transaction, to the nearest new coin, or where the new coin above and the new coin below are equally near, to the ..... under the first sub-section of section 13, provision is made for new coins to be legal tender and under the last two sub-sections for old coins. ..... the second sub-section declares that coins, whether old or new, shall be legal tender to the extent specified in section 13, and makes provision for equivalence between the old coinage and the new coinage, namely the decimal system of coinage. ..... section 13 makes both the new coins issued under the decimal system of coinage as well as the silver coins of the denomination of rupee coins, half-rupee coins and quarter-rupee coins issued after the 10th march, 1940, and nickel, copper and bronze coins issued before the 24th january, 1942, to be legal tender. .....

Amrit Banaspati Co. Ltd. and anr. Vs. State of Uttar Pradesh and ors.

Court : Supreme Court of India

Reported in : AIR1965SC560; 1965(0)BLJR54; [1964]8SCR313; [1965]16STC93(SC)

..... (3) all nickel, copper and bronze coins which may have been issued under this act before the 24th day of january, 1942 shall continue as before to be a legal tender in payment or on account for any sum not exceeding one rupee. ..... (2) all coins issued under the authority of the act in any denominations of annas, pice and pies shall to the "tent specified in section 13, be a legal tender in payment or on account at the rate of sixteen annas, sixty-four pice or one hundred and ninety-two pies to one hundred new coins referred to in sub-section (1) cal- culated in respect of any such single coin or number of such coins, tendered at one transac- tion, to the nearest new coin, or where the new coin above and the new coin below are ..... for the original sections 13 and 14) in so far as it is material provides: "(1) the coins issued under the authority of section 6 shall be a legal tender in payment or on account,- (a) in the case of a rupee coin, for any sum; (b) in the case of a half-rupee coin, for any sum not exceeding ten rupees; (c) in the case of any other coin, for any sum not exceeding one rupee: (2) * * *" section 14 which added by act 31 of 1955 provides: "(1) the rupee shall be divided into one hundred units and the .....

Veazie Bank Vs. Fenno

Court : US Supreme Court

..... coin, and bearing coin interest, at a rate not less than five percent, and the acts by which they were authorized declared them to be lawful money and a legal tender ..... the quality of legal tender to foreign coins, and has provided by law against the imposition of counterfeit and base coin on the ..... the rate of tax on circulation was continued and applied to the whole amount of it, and the shares of their stockholders were also subjected to taxation by the states; and a few days afterwards, by the act of june 30, 1864, [ footnote 10 ] to provide ways and means for the support of the government, the tax on the circulation of the state banks was also continued at the same annual rate of one ..... it is not important here to decide whether the quality of legal tender, in payment of debts, can be constitutionally imparted to these bills; it is enough to say that there can be no question of the power of the government to emit them, to make them receivable in payment of debts to itself ..... so, in the instance of the united states notes, or legal tenders, as they are called, issued under a constructive power to issue bills of credit, as no express power is given in the constitution, they are exempt from state taxation for a like reason as in the ..... bills of credit," and, in the same section, guard against any abuse of paper money of the state banks in the following words: "nor make anything but gold and silver coin a tender in payment of debts. ..... this act were treasury notes, payable on demand in coin. .....

The Mayor, Councillors and Citizens of the City of Auckland and Others ...

Court : Privy Council

..... in 1913 when this act was passed, the gold sovereign was legal tender both in england and new zealand, and the various notes current in both countries ..... in new zealand the banking amendment act, 1914, under which the governor in council was empowered by proclamation to declare that notes payable on demand by any bank named in the proclamation and subsequent issues, should be, during the period limited by the proclamation, legal tender in new zealand. ..... method of performance, and is not to be extended so as to change the substantive or essential conditions of the contract; but when it applies, as in 1934 ac 122,(1) it has the effect of introducing into the contract the law of currency or legal tender governing in the place of payment as a mode or method incidental to performance. ..... discharging a debt incurred in terms of units of account common to more than one country, in the currency which is legal tender in the particular country in which the debt has to be paid. ..... can the company discharge that indebtedness the answer can, i think, only be in whatever currency is legal tender in the place in which the indebtedness is dischargeable. ..... here to deal specifically with shillings and pence; these also were the same in both countries as units of account and were represented as measures of value in currency by silver and bronze token coins. ..... england and in new zealand gold coins for all practical purposes went out ..... not a question what amount of coins or other currency has the debtor .....

Dooley Vs. Smith

Court : US Supreme Court

..... by counsel for defendant in error that no question cognizable by this court on a writ of error to a state court is presented by the record, while the counsel for plaintiff insists that the validity of the act of congress making certain notes of the united states a legal tender in payment of debts was the only question raised and decided in the court below. ..... 1868, the amount due on the note was $9,843.92, and that on that day he tendered to smith that sum in united states legal tender treasury notes, commonly called greenbacks, which smith refused to receive and to surrender the note, though he ..... jurisdiction to review the judgment, and though the note sued on was made before the passage of the legal tender statutes by congress, held that the tender was a valid tender, and that the judgment of the court below must be reversed. ..... of course, for its solution upon the validity and constitutionality of that provision of the act of 1862 which makes these notes a legal tender in payment of debts. ..... 607 and holding these notes to be a valid tender in payment of contracts made before the enactment of the legal tender statutes, as well as those made since, decides the case before us on the merits and ..... this case showed no other reason why the court of appeals of kentucky sustained a demurrer to the plea than that it was made in legal tender notes of the united states, it sufficiently appeared that the question of the validity of these notes as a tender was made and decided in the negative. 4. .....

Legal Tender Cases

Court : US Supreme Court

..... been read, reverses the judgment rendered by the former majority of five to three, in pursuance of an opinion formed after repeated arguments, at successive terms, and careful consideration, and declares the legal tender clause to be constitutional -- that is to say, that an act of congress making promises to pay dollars legal tender as coined dollars in payment of preexisting debts is a means appropriate and plainly adapted to the exercise of powers expressly granted by the constitution, and not prohibited itself by the constitution but consistent with ..... sufficient. [ footnote 4/78 ] grant all that and still it is clear that where the contract is for the payment of a certain sum of money and the promise is expressed in dollars or in coined dollars, the promisee, if he sees fit, may lawfully refuse to accept payment in any other medium than gold and silver, made a legal tender by act of congress passed in pursuance of that provision of the constitution which vests in congress the power to coin money, regulate the value thereof and of foreign ..... hence it is not strange that those who hold the legal tender acts unconstitutional when applied to contracts made before february, 1862, find themselves compelled also to hold that the acts are invalid as to debts created after that time, and to hold that both classes of debts alike can be discharged only by gold and silver coin. .....

Legal Tender Cases

Court : US Supreme Court

..... . so far from deducing from that power any authority to impress the notes of the government with the quality of legal tender, its existence seems to me inconsistent with a power to make anything but coin a legal tender ..... the single question therefore to be considered, and upon the answer to which the judgment to be rendered between these parties depends, is whether notes of the united states, issued in time of war, under acts of congress declaring them to be a legal tender in payment of private debts, and afterwards in time of peace redeemed and paid in gold coin at the treasury, and then reissued under the act of 1878, can, under the page 110 u. s. ..... 437 of specie payments," enacted that on and after january 1, 1879, "the secretary of the treasury shall redeem in coin the united states legal tender notes then outstanding on their presentation for redemption at the office of the assistant treasurer of the united states in the city of new york, in sums of not less than fifty dollars," and authorized him to use for ..... 422 legal tender at their respective face values, for all debts, public and private, except duties on imports and interest on the public debt, and which, after having been presented for payment, and redeemed and paid in gold coin, since january 1, 1879, at the united states sub-treasury in new york, had been reissued and kept in circulation under and in pursuance of the act of congress of may 31, 1878, c. .....

Craig Vs. Missouri

Court : US Supreme Court

..... not until march, 1781 that virginia passed an act making all the bills of credit which had been emitted by congress, and all which had been emitted by the state, a legal tender in payment of debts. ..... 447 conflicting with that prohibition in the constitution, which declares that no state shall make anything but gold and silver coin a tender in payment of debts; no such question is involved in the case now before the court, and the law may be good in part, although bad ..... the words of the constitution are that "no state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligations of contracts; or grant any title ..... statutory provision of the state should be formed with a view of forcing the circulation of such coin by suspending the interest or postponing the debt of a creditor where it was refused, such statute would be void because it would act on the thing prohibited, and come directly in conflict with the constitution. ..... state is prohibited from coining money; consequently the money which it may coin cannot be circulated as ..... if a state emit bills of credit or coin money, neither can pass as money, whatever may be the regulation on ..... 443 control over the coining and valuing of the ..... suppose a state should coin money, would such money not constitute a valuable consideration for .....

Norman Vs. Baltimore and Ohio Railroad Co.

Court : US Supreme Court

..... 251 , the court held that the legal tender acts of 1862 and 1863, apart from any question of their constitutionality, had not repealed or modified the laws for the coinage of gold and silver or the statutory provisions which made those coins a legal tender in all payments. ..... dealing with the specific question as to the effect of the legal tender acts upon contracts made before their passage, that is, those for the payment of money generally, the court, in the legal tender cases, recognized the possible consequences of such enactments in frustrating the expected performance of contracts-in rendering them "fruitless, or partially fruitless. ..... and the court reasoned that, if the legal tender acts "were justly chargeable with impairing contract obligations, they would not, for that reason, be forbidden unless a different rule is to be applied to them from that which has hitherto prevailed in the construction of other powers granted by ..... defendant answered that, by acts of congress, and, in particular, by the joint resolution of june 5, 1933, defendant had been prevented from making payment in gold coin "or otherwise than dollar for dollar, in coin or currency of the united states (other than gold coin and gold certificates)," which at the time of payment constituted legal tender. .....