By an exchange or a currency one understands something, which a buyer hands to a salesman over, in order to acquire goods or services.

Articles of exchange are among other things articles, metals, substances of certain importance, which one can do against goods and services exchanges. In former times frequent articles of exchange were among other things salt, gold, silver, in some regions also shells.

Nowadays money is in the form of coins and lights generally accepted currency (see also to money function), even if its real value is far smaller, as that of the property acquired thereby. Besides exist a multiplicity of electronic and Zahlungssystemen.

Today's payment means are v.a.

• Bartering
• Cash
• Transfers
  • Standing orders
  • Direct debit authorizations
• Debit maps
• Credit cards
• Money maps
• Cheque
• Change
• Securities

Additionally frequently a certain number way is specified, which refers to the temporal connection between achievement and return. Differences becomes among other things in:

• Vorkasse (Prepaid), example: Prepaid cash on delivery (only paying, then the package)
• Nachkasse (Postpaid), example: Purchase on calculation
• Immediately (exchange, trust service), example: (a sequence of ider achievement grant is not fixed, however very time near)

Legal tender

Legal tender is a currency, by whose Hergabe after the laws of a country a money debt with legal effect can be fulfilled and erased thereby and which a creditor has to accept (one speaks also of acceptance obligation or acceptance obligation): A creditor is obligated to accept the repayment of a money debt with the legal tender if nothing else was effectively agreed upon; on the part of the debtor is the repayment of a money debt with something different one than the legal tender (e.g. Payment into foreign currency or with credit card) possible only if this possibility between the parties is agreed upon before in the context of the freedom of contract or later accepted by the creditor, to which it is however not obligated.

In Germany and the remaining 11 participating member states of the EWU the euro-cash is legal tender since 1 January 2002: in accordance with "§ 14 paragraph 1 sentence 2 Federal Bank law here of the EZB spent euro-lights are the only unlimited legal tender.

With the euro-coined money there is however a reduced acceptance obligation, because in accordance with the EEC regulation No. 974/98 of the advice of the 3. May 1998, kind 11 sentence 3 is not obligated anybody, "“with exception of the spending authority [...] to accept more than fifty coins with an individual payment."”

Euro-intending coins must be likewise only accepted in accordance with "§ 3 paragraph 1 monetary law to limited extent. During payments, which consist only of intending coins, amounts to 100 euro must be accepted; if a payment takes place both in euro-coins and in German euro-intending coins, nobody is also here committed to assume more as to 50 coins.

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• Text of the EEC regulation No. 974/98 of the 3. May 1998 (German version)

Articles in category "Currency"

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