Judgment Search Results Home > Cases Phrase: bronze coin legal tender act 1918 section 2 power to declare certain bronze coins coined outside part a states and part c states to be legal tender Page 1 of about 78 results (0.311 seconds)

Legal Tender Cases

Court : US Supreme Court

..... [ 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 coin. ..... in the eighth section of article i, it is declared that congress shall have power to make all laws which shall be necessary and proper for carrying into execution the foregoing powers and all other powers vested by this constitution in the government of the united states or in any department or office thereof. ..... obligation to fulfill that trust on the part of the government, namely, the trust and the duty of creating and maintaining a uniform and pure metallic standard of value throughout the union; that the power of coining money and of regulating its value was delegated to congress by the constitution for the very purpose of creating and preserving the uniformity and purity of such a standard of value, and on account of the impossibility which was foreseen of otherwise preventing the inequalities and the confusion necessarily incident to different .....

Hepburn Vs. Griswold

Court : US Supreme Court

..... clause in the first 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 all debts, public and private, within the united states except duties on imports ..... the power to declare war, to suppress insurrection, to raise and support armies, to provide and maintain a navy, to borrow money on the credit of the united states, to pay the debts of the union, and to provide for the common defense and general welfare, are each and all distinctly and specifically granted in separate clauses of the constitution. ..... by this ordinance certain fundamental articles of compact were established between the original states and the people and states of the territory, for the purpose, to use its own language, "of extending the fundamental principles of civil and religious liberty, whereon these republics" (the states united under the confederation), "their laws, and constitutions are erected. ..... it may be added as a part of the history that other issues, bearing interest at various rates, were authorized and made a legal tender, except in redemption of bank notes, for face amount exclusive of interest. .....

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

Court : Allahabad

Reported in : [1962]13STC923(All)

..... (2) all coins issued 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 new coin below. ..... 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. ..... 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. ..... 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. ..... as already stated, it is inevitable that the equivalence of old coins in terms of new coins should often result not in whole numbers but in fractions. ..... state of u. p. .....

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)

..... (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 equally near to the new coin below. ..... it is attracted when liability declared in annas, pice or pies is to be ascertained in terms of new coins whereas sub-section (2) operates in considering whether a certain payment in annas, pice or pices discharges an ascertained liability. ..... (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. ..... dealt with "coinage and legal tender", and was not within the competence of the state legislature. ..... it is thus that the latter part of the observations happened to refer to the method of calculation and not to the rate specified in subsection (2). ..... (3) which can be taken to refer o that part of sub- s. .....

Craig Vs. Missouri

Court : US Supreme Court

..... was 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. ..... 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 in part. ..... the passing of counterfeit money is prohibited under severe penalties by the laws of every state, and is it not in the power of a state to provide by law that every obligation given for counterfeit paper, known to be such by both parties, shall be ..... own quotations negative that idea, and the constitution does the same in the general prohibition in the states to make anything but gold or silver a legal tender. ..... often a difficult matter to define the limitations of the legislative, the executive, and the judicial powers of a state, and this difficulty is greater in defining the limitations of the federal government. ..... the twenty-third section of the act pledges certain property of the state for the redemption of these certificates, and the law authorizes the governor to negotiate a loan of silver or gold for the same ..... it is not one of those difficulties that, as a guide for the state, the power of the states over the law of contracts will legalize a contract made, under whatever law, or for whatever consideration. .....

Perry Vs. United States

Court : US Supreme Court

..... . 31, 52-53, entitled "an act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and for other purposes" by 43 provides that "such notes [united states notes] and all other coins and currencies heretofore or hereafter coined or issued by or under the authority of the united states shall be legal tender for all debts public and private ..... . is the claimant, being the holder and owner of a fourth liberty loan 4 1/4% bond of the united states, of the principal amount of $10,000, issued in 1918, which was payable on and after april 15, 1934, and which bond contained a clause that the principal is 'payable in united states gold coin of the present standard of value,' entitled to receive from the united states an amount in legal tender currency in excess of the face amount of the bond ..... . the fourteenth amendment, in its fourth section, explicitly declares: "the validity of the public debt of the united states, authorized by law, . . ..... . the question before the court in those cases was whether certain action was warranted by a reservation to the congress of the right to amend the charter of a railroad company ..... . these bonds are held by men and women in many parts of the world; they have relied upon our honor .....

Holyoke Water Power Co. Vs. American Writing Paper Co.

Court : US Supreme Court

..... banks and national banking associations) heretofore or hereafter coined or issued, shall be legal tender for all debts, public and private ..... sentence of paragraph (1) of subsection (b) of section 43 of the act entitled 'an act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and for other purposes,' approved may 12, 1933, is amended to read as follows:" " all coins and currencies of the united states (including federal reserve notes and circulating notes of federal reserve .....

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 ..... 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 case of government bonds, and we learn from the opinion of the court in this case that one step further is taken, and that is that the notes of the national banks are to be regarded as bills of credit, issued indirectly by the government; and it ..... , july 13, 1866, [ footnote 1 ] an act, the second clause of the 9th section of which enacts: "that every national banking association, state bank, or state banking association shall pay a tax of ten percentum on the amount of notes of any person, state bank, or state banking association used for circulation and paid out by them after the 1st day of august, 1866, and such tax shall be assessed and paid in such manner as shall be prescribed by ..... , by the act of march 3, 1863, [ footnote 8 ] a similar but lighter tax of one percent annually was imposed on the circulation of state banks in certain proportions to their capital, and of two percent on the excess, and the tax on ..... , ellsworth, paterson, and wilson had been members, and conspicuous members, of the constitutional convention, and each of the three had taken part in the discussions relating .....

Agricultural Bank Vs. Tax Comm'n

Court : US Supreme Court

..... ; the secretary of the treasury was required to deposit all of the public funds in the bank, unless he could give reasons to congress why he should not do so; the bank was required to transmit funds for the united states without charge; the bank issued currency which was established as legal tender for all debts owing to the government, and the bank clearly acted as the fiscal agent of the government, handling its foreign exchange transactions. ..... more importantly, neither may issue legal tender: "with the passing of the national bank notes, the united states lost much of the difference between the national banking system and the state banking systems. ..... [ footnote 3 ] this section provides in pertinent part: "the legislature of each state may determine and direct, subject to the provisions of this section, the manner and place of taxing all the shares of national banking associations located within its limits. ..... and this is certainly not a novel interpretation of the section, as shown by previous decisions of this court ..... 316, this court declared unconstitutional a state tax on the bank of the united states, since, according to chief justice marshall, this amounted to a "tax on the operation of an instrument employed by the government of the union to carry its powers into execution. ..... the result of this conflict was that the legislation, when finally passed, was a compromise which permitted state taxation of national banks in certain ways, but prohibited all other forms of state taxation. .....

Director of Enforcement Vs. Ravinder Aggarwal

Court : Delhi

Reported in : ILR1975Delhi335

..... section 19 (2) of the act to elicit certain information from the accused vide pw 1/c, the accused replied that he had already made a confessional statement before the officers of enforcement directorate voluntarily on 12-9-66 and the facts stated in that statement were true and ..... on behalf of the appellant that on the date ravinder aggarwal was examined by vijayan, the chief enforcement officer was not invested with the powers of the director under section 19e but it is submitted that if vijayan did not have the competence to examine ravinder aggarwal under the abovementioned provision it was open ..... and the third (vijayan) did not say that the recovery was made in his presence and then the currency alleged to have been recovered from the possession of the accused was not produced in court and it was not shown to be legal tender ..... section 2 of the act 'currency' includes all coins, currency notes, bank notes, postal notes, postal orders, money orders, cheques, drafts, traveller's cheques, letters of credit, bills of exchange and promissory notes, and 'foreign currency' according to clause (c) 'means any currency other than indian currency' clause (d) goes on to say that 'foreign exchange' means 'foreign currency and includes all deposits, credits and balances payable in any foreign currency, and ..... stated are that ravinder aggarwal was present outside the ..... and vijayan and the documents produced by the prosecution and it made no difference it the dollar notes in question were not made a part .....