Wire Transfers and Lawful Money Redemption
Unfortunately, the way wire transfers are conducted - there is no paper trail for one to indorse acceptance of funds in lawful money. Therefore, a check or other form of payment should be the first lawful money indorsement before a wire is accepted. Not every transaction can be accounted for in lawful money; however, where possible collect as much proof for any future inquiries.
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Lawful Money Redemption in Canada
The Bank of Canada and the Federal Reserve (USA) are linked by multiple printing contracts. It has been observed that the causal link also produces a lawful money redemption that the Bank of Canada processes through the Federal Reserve's New York ...
Which Is Better - A Wire Transfer, Zelle, Check or Cashier's Check
It doesn't matter. We prefer checks when possible, but even if by wire, Zelle or PayPal - the phrase "Redeemed in Lawful Money" entered into the notes covers these transfers into a bank account. If by check or Cashier’s Check, one may redeem in ...
Could The Lawful Money Redemption Process Change
No! For when law cannot provide a remedy, equity will. And if they changed the process - we would all know and have an enormous paper trail. It would take an act of Congress to change the laws and the Constitution. Contract law, which is what this ...
Can Cash Be Redeemed in Lawful Money
No, and please do not stamp money, as this can potentially be considered "defacing currency" and will lead to extreme sentences and fines. This is why the need for a repository of proof regarding the redemption of lawful money is required. When ...
Income Taxes and Lawful Money
Under its power to borrow money, Congress is authorized by the Constitution to contract debt, and whenever something is borrowed it must be returned. When Congress spends the contracted private credit, each use of credit is debt which must be ...