Something for Strange but True

Something to file under ‘Strange but True’ – having read Craig Murphy’s posting on a £5 coin that was only legal tender in Tristan da Cunha, I was intrigued to find that Scottish banknotes are in fact not legal tender in Scotland! In fact Bank of England bank notes are the only notes that are legal tender anywhere in the UK, and then only in England and Wales. Strangely that means that no notes at all are legal tender in Scotland or Northern Ireland. However, this is largely irrelevant, as creditors are obliged under law to accept any ‘reasonable’ settlement of the debt, and as the notes are not illegal traders are able to accept them if they so wish both in Scotland, and in the rest of the UK.

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