Misplaced Pages

#371628

99-424: Payments can be effected in a number of ways, for example: In general, payees are at liberty to determine what method of payment they will accept; though normally laws require the payer to accept the country's legal tender up to a prescribed limit. Payment is most commonly affected in the local currency of the payee unless the parties agree otherwise. Payment in another currency involves an additional transaction for

198-576: A West Germanic language that originated from the Anglo-Frisian dialects brought to Britain by Germanic settlers from various parts of what is now northwest Germany and the northern Netherlands. The resident population at this time was generally speaking Common Brittonic —the insular variety of Continental Celtic , which was influenced by the Roman occupation. This group of languages ( Welsh , Cornish , Cumbric ) cohabited alongside English into

297-468: A "most valuable analysis" of the correct contractual construction of such payments. An initial up-front partial payment for the purchase of an expensive items or service is often referred to as a " down payment "; this is also called a deposit in British English . A payment may involve more than two parties. For example, a pre-paid card transaction usually involves four parties: the purchaser,

396-539: A bank. However, Bank of England notes that are withdrawn from circulation generally cease to be legal tender but remain redeemable for current currency at the Bank of England itself or by post. All paper and polymer issues of New Zealand banknotes issued from 1967 onwards (and 1- and 2-dollar notes until 1993) are still legal tender; however, 1-, 2- and 5-cent coins are no longer used in New Zealand . A cashless society

495-559: A century as Received Pronunciation (RP). However, due to language evolution and changing social trends, some linguists argue that RP is losing prestige or has been replaced by another accent, one that the linguist Geoff Lindsey for instance calls Standard Southern British English. Others suggest that more regionally-oriented standard accents are emerging in England. Even in Scotland and Northern Ireland, RP exerts little influence in

594-630: A currency value indicated on them which is far below the value of the metal the coin contains: these coins are known as non-circulating legal tender or NCLT . The Australian dollar , comprising notes and coins, is legal tender in Australia . Australian notes are legal tender by virtue of the Reserve Bank Act 1959 (Cth) s 36(1), without an amount limit. The Currency Act 1965 (Cth) similarly provides that Australian coins intended for general circulation are also legal tender, but only for

693-778: A debt). The Middle English word "payen", which came from the French, was also used in both ways. There are two types of payment methods; exchanging and provisioning . Exchanging involves the use of money , comprising banknotes and coins . Provisioning involves the transfer of money from one account to another, and involves a third party. Credit card , debit card , cheque , money transfers , and recurring cash or ACH ( Automated Clearing House ) disbursements are all electronic payments methods. Electronic payment technologies include magnetic stripe cards , smartcards , contactless cards , and mobile payment . Progress payments or instalment payments are often used to allow payment in stages for

792-459: A formal monetary agreement with the EU, unilaterally adopted the euro in 2002 as their de facto domestic currency to ensure monetary stability and to continue to avoid the high/hyper inflation seen in preceding decades: this means that the euro is not a legal tender there, however it is treated as such by the government and the people. Legal tender was enacted the first time for gold and silver coins in

891-508: A greater movement, normally [əʊ], [əʉ] or [əɨ]. Dropping a morphological grammatical number , in collective nouns , is stronger in British English than North American English. This is to treat them as plural when once grammatically singular, a perceived natural number prevails, especially when applying to institutional nouns and groups of people. The noun 'police', for example, undergoes this treatment: Police are investigating

990-526: A guarantee or other security for a debt does not constitute a payment. The root word "pay" in "payment" comes from the Latin "pacare" (to pacify), from "pax", meaning "peace". In the Middle Ages, the term began to be used more broadly, to mean "to pacify one's creditors". As the Latin word was made part of Old French "paier", it retained the meaning "appease" but gained the meaning "to pay" (as in paying

1089-406: A lesser class or social status and often discounted or considered of a low intelligence. Another contribution to the standardisation of British English was the introduction of the printing press to England in the mid-15th century. In doing so, William Caxton enabled a common language and spelling to be dispersed among the entirety of England at a much faster rate. Samuel Johnson's A Dictionary of

SECTION 10

#1732779939372

1188-584: A number of other banks including the Bank of New Zealand , the Bank of New South Wales , the National Bank of New Zealand and the Colonial Bank of New Zealand were created by Acts of Parliament and authorized to issue bank-notes backed by gold, however these notes were not legal tender. The 1893 Bank Note Issue Act allowed the government to declare a bank's right to issue legal tender. This enabled

1287-457: A period of time; only Ireland continues to do so. Legally, those coins and banknotes were considered non-decimal sub-divisions of the euro. When the so-called "Swiss" dinar ceased to be legal tender in Iraq , it still circulated in the northern Kurdish regions. Despite lacking government backing, it had a stable market value for more than a decade. This is also true of the paper money issued by

1386-659: A process called T-glottalisation . National media, being based in London, have seen the glottal stop spreading more widely than it once was in word endings, not being heard as "no [ʔ] " and bottle of water being heard as "bo [ʔ] le of wa [ʔ] er". It is still stigmatised when used at the beginning and central positions, such as later , while often has all but regained /t/ . Other consonants subject to this usage in Cockney English are p , as in pa [ʔ] er and k as in ba [ʔ] er. In most areas of England and Wales, outside

1485-520: A regional accent or dialect. However, about 2% of Britons speak with an accent called Received Pronunciation (also called "the King's English", "Oxford English" and " BBC English" ), that is essentially region-less. It derives from a mixture of the Midlands and Southern dialects spoken in London in the early modern period. It is frequently used as a model for teaching English to foreign learners. In

1584-775: A replacement for the Indian rupee for circulation exclusively outside the country with the Reserve Bank of India Amendment Act of 1 May 1959. This creation of a separate currency was an attempt to reduce the strain put on India's foreign reserves by gold smuggling. Kuwait and Bahrain eventually replaced the Gulf rupee with their own currencies (the Kuwaiti dinar and the Bahraini dinar ) after gaining independence from Britain in 1961 and 1965, respectively. On 6 June 1966, India devalued

1683-722: A series of Hawaii overprint notes as an emergency issue after the attack on Pearl Harbor. The intent of the overprints was to easily distinguish United States dollars captured by the Imperial Japanese Armed Forces in the event of an invasion of Hawaii (which never happened) and render the notes worthless via demonetisation. Demonetisation is currently prohibited in the United States, and the Coinage Act of 1965 applies to all US coins and currency regardless of age. The closest historical equivalent in

1782-457: A specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. The term legal tender is from Middle French tendre (verb form), meaning to offer . The Latin root is tendere (to stretch out), and the sense of tender as an offer is related to the etymology of the English word extend (to hold outward). Demonetization

1881-623: A tax of 10%, per annum, on "all bank notes issued or re-issued by any bank in the Commonwealth after the commencement of this Act, and not redeemed". These Acts effectively put an end to the issue of notes by the trading banks and the Queensland Treasury. The Reserve Bank Act 1959 expressly prohibits persons and states from issuing "a bill or note for the payment of money payable to bearer on demand and intended for circulation". In general, Canadian dollar banknotes issued by

1980-444: A thousand-guilder bill, you have to be able to state how you came by it and provide proof. They can still be used to pay taxes, but only until next week. The five-hundred notes will lapse at the same time. Gies & Co. still had some unaccounted-for thousand-guilder bills, which they used to pay their estimated taxes for the coming years, so everything seems to be above board. Piet Lieftinck 's measure of demonetizing 100-guilder notes

2079-426: A view to curb counterfeiting, tax evasion and the parallel economy . The Reserve Bank of India outlined a scheme for holders of such banknotes to either deposit them into their bank accounts for full, unlimited value, or to exchange the banknotes for new, subject to a cap. New Zealand has a complex history of legal tender. English law applied, as applicable to local circumstances, either from 6 January 1840 (when

SECTION 20

#1732779939372

2178-617: Is Maundy money . Some currency issuers, particularly the Scottish banks, issue special commemorative banknotes which are intended for ordinary circulation (though no Scottish banknotes nor notes from Northern Ireland are legal tender in the United Kingdom). As well, some standard coins are minted on higher-quality dies as uncirculated versions of the coin, for collectors to purchase at a premium; these coins are nevertheless legal tender. Some countries issue precious-metal coins which have

2277-725: Is also due to London-centric influences. Examples of R-dropping are car and sugar , where the R is not pronounced. British dialects differ on the extent of diphthongisation of long vowels, with southern varieties extensively turning them into diphthongs, and with northern dialects normally preserving many of them. As a comparison, North American varieties could be said to be in-between. Long vowels /iː/ and /uː/ are usually preserved, and in several areas also /oː/ and /eː/, as in go and say (unlike other varieties of English, that change them to [oʊ] and [eɪ] respectively). Some areas go as far as not diphthongising medieval /iː/ and /uː/, that give rise to modern /aɪ/ and /aʊ/; that is, for example, in

2376-599: Is an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins. Cashless societies have existed, based on barter and other methods of exchange. In modern usage, the term usually refers to financial transactions conducted by transfer of digital information (usually an electronic representation of money) between the transacting parties. Sometimes currency issues such as commemorative coins or transfer bills may be issued that are not intended for public circulation but are nonetheless legal tender. An example of such currency

2475-612: Is at liberty to set the commercial terms upon which payment will take place before the contract for supply of the goods or services is entered into. If a provider of goods or services specifies other means of payment prior to the contract, then there is usually no obligation for legal tender to be accepted as payment. This is the case even when an existing debt is involved. However, refusal to accept legal tender in payment of an existing debt, where no other means of payment/settlement has been specified in advance, conceivably could have consequences in legal proceedings. Australia Post prohibits

2574-446: Is expected to double to 18.82 per cent in 2011. There is a fast growth of mobile payments around the world. Google Pay, Apple Pay and Samsung Pay are the three main choices for mobile payments, while some banks also allow NFC Payments. In some countries, mobile wallets have become a dominant way of mobile payments. Historically, cheques have been one of the primary means of payment for purchasing goods and services, though its share in

2673-740: Is included in style guides issued by various publishers including The Times newspaper, the Oxford University Press and the Cambridge University Press . The Oxford University Press guidelines were originally drafted as a single broadsheet page by Horace Henry Hart, and were at the time (1893) the first guide of their type in English; they were gradually expanded and eventually published, first as Hart's Rules , and in 2002 as part of The Oxford Manual of Style . Comparable in authority and stature to The Chicago Manual of Style for published American English ,

2772-754: Is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. It is generally only mandatory to recognize the payment of legal tender in the discharge of a monetary debt from a debtor to a creditor. Sellers offering to enter into contractual relationship, such as a contract for the sale of goods, do not need to accept legal tender and may instead require payment using electronic methods, foreign currencies or any other legally recognized object of value. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques , credit cards , and similar non-cash methods of payment are usually not. Some jurisdictions may include

2871-428: Is restored as legal tender. Coins and banknotes may cease to be legal tender if new notes of the same currency replace them or if a new currency is introduced replacing the former one. Examples of this are: Thousand-guilder notes are being declared invalid. That'll be a blow to the black marketeers and others like them, but even more to people in hiding and anyone else with money that can't be accounted for. To turn in

2970-808: Is the de facto legal tender currency in India . The Indian rupee is also legal tender in Nepal and Bhutan , but the Nepalese rupee and Bhutanese ngultrum are not legal tender in India. Both the Nepalese rupee and Bhutanese ngultrum are pegged with the Indian rupee. The Indian rupee used to be an official currency of several other countries, including the Straits Settlements (now Singapore and parts of Malaysia ), Iraq , Kuwait , Bahrain , Qatar ,

3069-411: Is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form or forms of money is or are pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency. The opposite of demonetization is remonetization, in which a form of payment

Payment - Misplaced Pages Continue

3168-547: The Chambers Dictionary , and the Collins Dictionary record actual usage rather than attempting to prescribe it. In addition, vocabulary and usage change with time; words are freely borrowed from other languages and other varieties of English, and neologisms are frequent. For historical reasons dating back to the rise of London in the ninth century, the form of language spoken in London and

3267-544: The Bank of Canada and coins issued under the authority of the Royal Canadian Mint Act are legal tender in Canada . However, commercial transactions may legally be settled in any manner agreed by the parties involved with the transactions. For example, convenience stores may refuse $ 100 bank notes if they feel that would put them at risk of being counterfeit victims; however, official policy suggests that

3366-855: The Central Bank of Ireland and such persons as may be designated by the Minister by order, shall be obliged to accept more than 50 coins denominated in euro or in cent in any single transaction." The Decimal Currency Act, 1970 governed legal tender prior to the adoption of the euro and laid down the analogous provisions as in United Kingdom legislation (all inherited from previous UK law ), namely: coins denominated above 10 pence became legal tender for payment not exceeding £10, coins denominated not more than 10 pence became legal tender for payment not exceeding £5, and bronze coins became legal tender for payment not exceeding 20 pence. The Indian rupee

3465-598: The Confederate States of America during the American Civil War . The Confederate currency became worthless by its own terms after the war, since it could only be redeemed a stated number of years after a peace treaty was signed between the Confederacy and the United States (which never happened, as the Confederacy was defeated and dissolved ). During World War II the United States printed

3564-658: The East Midlands became standard English within the Court, and ultimately became the basis for generally accepted use in the law, government, literature and education in Britain. The standardisation of British English is thought to be from both dialect levelling and a thought of social superiority. Speaking in the Standard dialect created class distinctions; those who did not speak the standard English would be considered of

3663-576: The English language in England , or, more broadly, to the collective dialects of English throughout the British Isles taken as a single umbrella variety, for instance additionally incorporating Scottish English , Welsh English , and Northern Irish English . Tom McArthur in the Oxford Guide to World English acknowledges that British English shares "all the ambiguities and tensions [with]

3762-580: The Eurozone on 1 January 2002. Although one side of the coins is used for different national marks for each country, all coins and all banknotes are legal tender throughout the eurozone . Although some eurozone countries do not put 1 cent and 2 cent coins into general circulation (prices in those countries are by general understanding always rounded to whole multiples of 5 cent ), 1 cent and 2 cent coins from other eurozone countries remain legal tender in those countries. Council Regulation (EC) No 974/98 limits

3861-742: The French Penal Code of 1807 (art. 475, 11°). In 1870, legal tender was extended to all notes of the Banque de France . Anyone refusing such coins for their whole value would be prosecuted (French Penal Code art. R. 642–3). According to the Economic and Monetary Union Act 1998 of the Republic of Ireland , which replaced the legal tender provisions that had been re-enacted in Irish legislation from previous British enactments, "No person, other than

3960-598: The Reserve Bank , established in 1934, did not have the right to issue coins as legal tender. Coins had to be issued by the Minister of Finance .) The history of bank notes in New Zealand was considerably more complex. In 1840 the Union Bank of Australia started issuing bank notes under provisions of British law but these were not automatically legal tender. In 1844, ordinances were passed by NZ Parliament making

4059-493: The Royal Spanish Academy with Spanish. Standard British English differs notably in certain vocabulary, grammar, and pronunciation features from standard American English and certain other standard English varieties around the world. British and American spelling also differ in minor ways. The accent, or pronunciation system, of standard British English, based in southeastern England, has been known for over

Payment - Misplaced Pages Continue

4158-490: The Scots language or Scottish Gaelic ). Each group includes a range of dialects, some markedly different from others. The various British dialects also differ in the words that they have borrowed from other languages. Around the middle of the 15th century, there were points where within the 5 major dialects there were almost 500 ways to spell the word though . Following its last major survey of English Dialects (1949–1950),

4257-691: The Trucial States (now the UAE ), Oman , Aden Colony and Aden Protectorate (now parts of Yemen ), British Somaliland , British East Africa , and Zanzibar . In 1837, the Indian rupee was made the sole official currency of the Straits Settlements, as it was administered as a part of India. In 1845, the British replaced the Indian rupee with the Straits dollar after administration of

4356-608: The Union Bank banknotes legal tender and authorizing the government to issue debentures in small denominations, thus creating two sets of legal tender. These debentures were circulated but were traded at a discount to their face value because of distrust of the colonial government amongst the settler population. In 1845 the British Colonial office disallowed the Ordinance, namely the Debentures Act 1844 (NZ), and

4455-573: The University of Leeds has started work on a new project. In May 2007 the Arts and Humanities Research Council awarded a grant to Leeds to study British regional dialects. The team are sifting through a large collection of examples of regional slang words and phrases turned up by the "Voices project" run by the BBC , in which they invited the public to send in examples of English still spoken throughout

4554-610: The West Country and other near-by counties of the UK, the consonant R is not pronounced if not followed by a vowel, lengthening the preceding vowel instead. This phenomenon is known as non-rhoticity . In these same areas, a tendency exists to insert an R between a word ending in a vowel and a next word beginning with a vowel. This is called the intrusive R . It could be understood as a merger, in that words that once ended in an R and words that did not are no longer treated differently. This

4653-403: The construction of buildings or other assets. Instalment payments were planned for in the case of Cadogan Petroleum Holdings Ltd v Global Process Systems LLC , where the latter would pay in instalments for the acquisition of two gas plants. Their contract stated that ownership would not pass until the payments were complete and that any failure to pay an instalment would allow Cadogan to rescind

4752-629: The 21st century. RP, while long established as the standard English accent around the globe due to the spread of the British Empire , is distinct from the standard English pronunciation in some parts of the world; most prominently, RP notably contrasts with standard North American accents. In the 21st century, dictionaries like the Oxford English Dictionary , the Longman Dictionary of Contemporary English ,

4851-494: The Coinage Act authorized a specific New Zealand coinage and removed legal-tender status from British coins. In the same year the Reserve Bank of New Zealand was established. The bank was given a monopoly on the issue of legal tender. The Reserve Bank also provided a mechanism through which the other issuers of legal tender could phase out their bank notes. These banknotes were convertible into British legal tender on demand at

4950-836: The English Language (1755) was a large step in the English-language spelling reform , where the purification of language focused on standardising both speech and spelling. By the early 20th century, British authors had produced numerous books intended as guides to English grammar and usage, a few of which achieved sufficient acclaim to have remained in print for long periods and to have been reissued in new editions after some decades. These include, most notably of all, Fowler's Modern English Usage and The Complete Plain Words by Sir Ernest Gowers . Detailed guidance on many aspects of writing British English for publication

5049-524: The European Union under the Late Payment directives of 2000 and 2011. Legal tender Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt . Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There

SECTION 50

#1732779939372

5148-543: The Eurozone. For example, the Netherlands, Italy, Belgium, Finland, and Ireland have de jure or de facto removed the use of 1 cent and 2 cent coins and adopted cash rounding to the nearest multiple of 5 cents. National laws may also impose restrictions as to maximal amounts that can be settled by coins or notes. Kosovo and Montenegro , which are not members of the European Union and the Eurozone and do not have

5247-613: The Germanic schwein ) is the animal in the field bred by the occupied Anglo-Saxons and pork (like the French porc ) is the animal at the table eaten by the occupying Normans. Another example is the Anglo-Saxon cu meaning cow, and the French bœuf meaning beef. Cohabitation with the Scandinavians resulted in a significant grammatical simplification and lexical enrichment of the Anglo-Frisian core of English;

5346-676: The Governor of New South Wales by proclamation annexed New Zealand) or from 14 January 1840 (when Captain Hobson (of the Royal Navy) was sworn in as Lieutenant-Governor of New Zealand). The English Laws Act 1858 subsequently confirmed that English legislation passed prior to 14 January 1840 was and had been the law of New Zealand, as applicable to local circumstances. The (UK) Coinage Act 1816 therefore applied and British coins were confirmed as legal tender in New Zealand . (Unusually, until 1989,

5445-621: The Oxford Manual is a fairly exhaustive standard for published British English that writers can turn to in the absence of specific guidance from their publishing house. British English is the basis of, and very similar to, Commonwealth English . Commonwealth English is English as spoken and written in the Commonwealth countries , though often with some local variation. This includes English spoken in Australia , Malta , New Zealand , Nigeria , and South Africa . It also includes South Asian English used in South Asia, in English varieties in Southeast Asia , and in parts of Africa. Canadian English

5544-432: The Reserve Bank and remained so until the 1938 Sterling Exchange Suspension Notice that suspended provisions of a 1936 amendment of the 1933 Reserve Bank of New Zealand Act. British English British English (abbreviations: BrE , en-GB , and BE ) is the set of varieties of the English language native to the United Kingdom of Great Britain and Northern Ireland . More narrowly, it can refer specifically to

5643-599: The South East, there are significantly different accents; the Cockney accent spoken by some East Londoners is strikingly different from Received Pronunciation (RP). Cockney rhyming slang can be (and was initially intended to be) difficult for outsiders to understand, although the extent of its use is often somewhat exaggerated. Londoners speak with a mixture of accents, depending on ethnicity, neighbourhood, class, age, upbringing, and sundry other factors. Estuary English has been gaining prominence in recent decades: it has some features of RP and some of Cockney. Immigrants to

5742-422: The Straits Settlements separated from India earlier in that same year. After partition of India and Pakistan in 1947 , the Pakistani rupee came into existence, initially using Indian coins and Indian currency notes simply overstamped with the word "Pakistan". New coins and banknotes were issued in 1948. The Gulf rupee , also known as the Persian Gulf rupee (XPGR), was introduced by the Government of India as

5841-517: The UK (Scotland and Northern Ireland) are not legal tender, but one of the criteria for legal protection under the Forgery and Counterfeiting Act is that banknotes must be payable on demand, therefore withdrawn notes remain a liability of the issuing bank without any time limits. In the case of the euro, coins and banknotes of former national currencies were in some cases considered legal tender from 1 January 1999 until various dates in 2002. Most countries continued to exchange pre-euro notes and coins for

5940-463: The UK in recent decades have brought many more languages to the country and particularly to London. Surveys started in 1979 by the Inner London Education Authority discovered over 125 languages being spoken domestically by the families of the inner city's schoolchildren. Notably Multicultural London English , a sociolect that emerged in the late 20th century spoken mainly by young, working-class people in multicultural parts of London . Since

6039-679: The US, other than Confederate money, was from 1933 to 1974, when the government banned most private ownership of gold bullion , including gold coins held for non- numismatic purposes. Now, however, even surviving pre-1933 gold coins are legal tender under the 1964 act. Banknotes and coins may be withdrawn from circulation, but remain legal tender. United States banknotes issued at any date remain legal tender even after they are withdrawn from circulation. Canadian 1- and 2-dollar bills remain legal tender even if they have been withdrawn and replaced by coins, but Canadian $ 1,000 bills remain legal tender even if they are removed from circulation as they arrive at

SECTION 60

#1732779939372

6138-458: The United Kingdom , as well as within the countries themselves. The major divisions are normally classified as English English (or English as spoken in England (which is itself broadly grouped into Southern English , West Country , East and West Midlands English and Northern English ), Northern Irish English (in Northern Ireland), Welsh English (not to be confused with the Welsh language ), and Scottish English (not to be confused with

6237-402: The West Scottish accent. Phonological features characteristic of British English revolve around the pronunciation of the letter R, as well as the dental plosive T and some diphthongs specific to this dialect. Once regarded as a Cockney feature, in a number of forms of spoken British English, /t/ has become commonly realised as a glottal stop [ʔ] when it is in the intervocalic position, in

6336-410: The adjective little is predominant elsewhere. Nevertheless, there is a meaningful degree of uniformity in written English within the United Kingdom, and this could be described by the term British English . The forms of spoken English, however, vary considerably more than in most other areas of the world where English is spoken and so a uniform concept of British English is more difficult to apply to

6435-426: The award of the grant in 2007, Leeds University stated: that they were "very pleased"—and indeed, "well chuffed"—at receiving their generous grant. He could, of course, have been "bostin" if he had come from the Black Country , or if he was a Scouser he would have been well "made up" over so many spondoolicks, because as a Geordie might say, £460,000 is a "canny load of chink". Most people in Britain speak with

6534-420: The case of coins of a denomination greater than $ 10, a payment is a legal tender for no more than the value of a single coin of that denomination. Where more than one amount is payable by one person to another on the same day under one or more obligations, the total of those amounts is deemed to be one amount due and payable on that day. In the People's Republic of China, the official currency renminbi serves as

6633-469: The cheque is not presented to the bank until the next taxable year, even though the payer could stop payment on the cheque, in the meantime. Postdated cheques , however, are not considered payment when delivered. Generally, payments by credit card take effect at the point of the sale and not when a payer is billed by the credit card company or when the payer pays the credit card company's bill. A business that reports on an accrual basis, would report income in

6732-441: The contract , "without prejudice to any accrued rights". The High Court ruled that the wording allowed Cadogan to retain the instalments which had been paid even though they did not acquire the assets in exchange. The court referred to a text written by Jack Beatson , later a Lord Justice of Appeal , on Discharge For Breach: The Position of Instalments, Deposits and other Payments due before Completion , which Eder J described as

6831-410: The conversion. The payee may compromise on a debt, i.e., accept part payment in full settlement of a debtor's obligation, or may offer a discount, E.G: For payment in cash, or for prompt payment, etc. On the other hand, the payee may impose a surcharge , for example, as a late payment fee, or for use of a certain credit card, etc. Payments are frequently preceded by an invoice or bill, which follows

6930-514: The country. The BBC Voices project also collected hundreds of news articles about how the British speak English from swearing through to items on language schools. This information will also be collated and analysed by Johnson's team both for content and for where it was reported. "Perhaps the most remarkable finding in the Voices study is that the English language is as diverse as ever, despite our increased mobility and constant exposure to other accents and dialects through TV and radio". When discussing

7029-467: The debentures were recalled, not without first causing a panic among holders. In 1847, the Colonial Bank of Issue became the only issuer of legal tender. In 1856, however, the Colonial Bank of Issue was disbanded; and through the Paper Currency Act 1856 the Union Bank was confirmed once again as an issuer of legal tender. The Act also authorized the Oriental Bank to issue legal tender - but this bank ceased operations in 1861. Between 1861 and 1874,

7128-501: The following amounts: The 1c and 2c coins were withdrawn from circulation from February 1992 but remain legal tender. Although the Reserve Bank Act 1959 and the Currency Act 1965 establishes that Australian banknotes and coins have legal tender status, Australian banknotes and coins do not necessarily have to be used in transactions and refusal to accept payment in legal tender is not unlawful. A provider of goods or services

7227-475: The government to make such a declaration to assist the Bank of New Zealand when in 1895 the bank encountered financial difficulties that could have led to its failure. In 1914, the Banking Amendment Act gave legal-tender status to bank notes from any issuer and removed the requirement that banks authorized to issue bank notes must redeem them on demand for gold (the gold standard ). In 1933,

7326-458: The idea of two different morphemes, one that causes the double negation, and one that is used for the point or the verb. Standard English in the United Kingdom, as in other English-speaking nations, is widely enforced in schools and by social norms for formal contexts but not by any singular authority; for instance, there is no institution equivalent to the Académie française with French or

7425-523: The last southern Midlands accent to use the broad "a" in words like bath or grass (i.e. barth or grarss ). Conversely crass or plastic use a slender "a". A few miles northwest in Leicestershire the slender "a" becomes more widespread generally. In the town of Corby , five miles (8 km) north, one can find Corbyite which, unlike the Kettering accent, is largely influenced by

7524-518: The later Norman occupation led to the grafting onto that Germanic core of a more elaborate layer of words from the Romance branch of the European languages. This Norman influence entered English largely through the courts and government. Thus, English developed into a "borrowing" language of great flexibility and with a huge vocabulary . Dialects and accents vary amongst the four countries of

7623-457: The mass internal migration to Northamptonshire in the 1940s and given its position between several major accent regions, it has become a source of various accent developments. In Northampton the older accent has been influenced by overspill Londoners. There is an accent known locally as the Kettering accent, which is a transitional accent between the East Midlands and East Anglian . It is

7722-463: The modern period, but due to their remoteness from the Germanic languages , influence on English was notably limited . However, the degree of influence remains debated, and it has recently been argued that its grammatical influence accounts for the substantial innovations noted between English and the other West Germanic languages. Initially, Old English was a diverse group of dialects, reflecting

7821-413: The next. For U.S. tax purposes, cash payments generally are taken to occur at the time of payment. Payment may also occur when a person transfers property or performs a service to the payee in satisfaction of an obligation. A payment by cheque is normally deemed to occur when the cheque is delivered, as long as the cheque is honoured on the presentation by the payee. This rule also generally applies where

7920-420: The number of coins that can be offered for payment to fifty. Governments that issue the coins must establish the euro as the only legal tender. Due to variations on the legislative meaning of legal tender in various member states and the ability of contract law to overrule the status of legal tender, it is possible for merchants to choose to refuse to accept euro banknotes and coins within specific countries within

8019-444: The payer's legal obligations. The acceptance of a payment by the payee extinguishes a debt or other obligation. A creditor cannot unreasonably refuse to accept a payment, but payment can be refused in some circumstances, for example, on a Sunday or outside banking hours. A payee is usually obligated to acknowledge payment by producing a receipt to the payer. A receipt may be an endorsement on an account as "paid in full". The giving of

8118-408: The payment mix is falling worldwide. In 2001, in the United States, cheques accounted for 25% of the U.S.-based payment mix; and in 2006, this was projected to fall to 17%. The timing of payment has legal implications in some situations. For tax purposes, for example, the timing of payment may determine whether it qualifies as a deduction in a taxpayer's calculation of taxable income in one year or

8217-787: The protection of the public. Queensland Treasury notes were issued by the Queensland Government and were legal tender in that state. Notes of both categories continued in circulation until 1910, when the Commonwealth Parliament passed the Australian Notes Act 1910 and the Bank Notes Tax Act 1910 . The Australian Notes Act 1910 prohibited the circulation of state notes as money, and the Bank Notes Tax Act 1910 imposed

8316-421: The retailers should evaluate the impact of that approach. In the case that no mutually acceptable form of payment can be found for the tender, the parties involved should seek legal advice. Under the Currency Act , there are limits to the value of a transaction for which only coins are used. A payment in coins is a legal tender for no more than the following amounts for the following denominations of coins: In

8415-700: The rupee. To avoid following this devaluation, several of the states using the rupee adopted their own currencies. Qatar and most of the Trucial States adopted the Qatar and Dubai riyal , whilst Abu Dhabi adopted the Bahraini dinar . Only Oman continued to use the Gulf rupee until 1970, with the government backing the currency at its old peg to the pound. Oman later replaced the Gulf rupee with its own rial in 1970. On 8 November 2016, Prime Minister Narendra Modi announced that existing INR 500 and INR 1000 banknotes would no longer be accepted as legal tender with

8514-797: The seller, the issuing bank and the acquiring bank . A cash payment requires at least three parties: the seller, the purchaser and the issuer of the currency. A barter payment requires a minimum of two parties: the purchaser and the seller. The infrastructure and electronic clearing methods are formed by the payment provider . Global credit card payment providers are Diners Club , Visa , American Express and MasterCard . Maestro and Cirrus are international debit card payment providers. Blockchain also provides an infrastructure for payments using digital currency and potentially better security, fewer intermediaries, and lower transaction costs. In 2005, an estimated $ 40 trillion globally passed through some type of payment system. Roughly $ 12 trillion of that

8613-519: The sending of coins or banknotes, of any country, except via registered post . In 1901, notes in circulation in Australia consisted of bank notes payable in gold coin and issued by the trading banks, and Queensland Treasury notes. Bank notes circulated in all states except Queensland , but were not legal tender except for a brief period in 1893 in New South Wales . There were, however, some restrictions on their issue and other provisions for

8712-461: The spoken language. Globally, countries that are former British colonies or members of the Commonwealth tend to follow British English, as is the case for English used by European Union institutions. In China, both British English and American English are taught. The UK government actively teaches and promotes English around the world and operates in over 200 countries . English is

8811-461: The supply of goods or services, but in some industries (such as travel and hotels) it is not uncommon for pre-payments to be required before the service is performed or provided. In some industries, a deposit may be required before services are performed, which acts as a part pre-payment or as security to the service provider. In some cases, progress payments are made in advance, and in some cases part payments are accepted, which do not extinguish

8910-603: The theft of work tools worth £500 from a van at the Sprucefield park and ride car park in Lisburn. A football team can be treated likewise: Arsenal have lost just one of 20 home Premier League matches against Manchester City. This tendency can be observed in texts produced already in the 19th century. For example, Jane Austen , a British author, writes in Chapter 4 of Pride and Prejudice , published in 1813: All

9009-403: The traditional accent of Newcastle upon Tyne , 'out' will sound as 'oot', and in parts of Scotland and North-West England, 'my' will be pronounced as 'me'. Long vowels /iː/ and /uː/ are diphthongised to [ɪi] and [ʊu] respectively (or, more technically, [ʏʉ], with a raised tongue), so that ee and oo in feed and food are pronounced with a movement. The diphthong [oʊ] is also pronounced with

9108-546: The unlimited legal tender for all transactions. It is illegal for any public institution or individual to refuse the currency when settling public or private debts. In June 2021, El Salvador became the first country to accept Bitcoin as legal tender, after the Legislative Assembly had voted 62–22 to pass a bill submitted by President Nayib Bukele classifying the cryptocurrency as such. Euro coins and banknotes became legal tender in most countries of

9207-750: The varied origins of the Anglo-Saxon kingdoms of England. One of these dialects, Late West Saxon , eventually came to dominate. The original Old English was then influenced by two waves of invasion: the first was by speakers of the Scandinavian branch of the Germanic family, who settled in parts of Britain in the eighth and ninth centuries; the second was the Normans in the 11th century, who spoke Old Norman and ultimately developed an English variety of this called Anglo-Norman . These two invasions caused English to become "mixed" to some degree (though it

9306-402: The word 'British' and as a result can be used and interpreted in two ways, more broadly or more narrowly, within a range of blurring and ambiguity". Variations exist in formal (both written and spoken) English in the United Kingdom. For example, the adjective wee is almost exclusively used in parts of Scotland, north-east England, Northern Ireland, Ireland, and occasionally Yorkshire , whereas

9405-568: The world are good and agreeable in your eyes. However, in Chapter 16, the grammatical number is used. The world is blinded by his fortune and consequence. Some dialects of British English use negative concords, also known as double negatives . Rather than changing a word or using a positive, words like nobody, not, nothing, and never would be used in the same sentence. While this does not occur in Standard English, it does occur in non-standard dialects. The double negation follows

9504-580: The year of sale though payment may be received in a subsequent year. Payment of most fees to government agencies by cheque, if permitted, usually takes effect after a set number of days for clearance or until the cheque is actually cleared. Payments by credit card, if permitted, and cash payments take immediate effect. Normally, no other forms of payment are permitted or accepted. Commercial late payments and consequent interest entitlements are regulated in some countries, for example in Member States of

9603-426: Was aimed at war profiteers . Individual coins or banknotes can be demonetised and cease to be legal tender (for example, the pre-decimal United Kingdom farthing or the Bank of England 1 pound note), but the Bank of England does redeem all Bank of England banknotes by exchanging them for legal tender currency at its counters in London (or by post) regardless of how old they are. Banknotes issued by retail banks in

9702-422: Was never a truly mixed language in the strictest sense of the word; mixed languages arise from the cohabitation of speakers of different languages, who develop a hybrid tongue for basic communication). The more idiomatic, concrete and descriptive English is, the more it is from Anglo-Saxon origins. The more intellectual and abstract English is, the more it contains Latin and French influences, e.g. swine (like

9801-508: Was transacted through various credit cards, mostly the 21,000 member banks of Visa and MasterCard . Processing payments, including the extending of credit, produced close to $ 500 billion in revenue. In 2012, roughly $ 377 trillion passed through noncash payment systems. This led to total account and transaction revenues of nearly $ 524 billion. In the U.S., debit cards are the fastest growing payment technology. In 2001, debit cards accounted for 9 percent of all purchase transactions, and this

#371628