general acceptance of paper currency is equally as important as the government's decree that money is legal tender. general acceptance of paper currency is more important than the government's decree that money is legal tender. the government's decree that money is legal tender is more important than the general acceptance of paper currency. private firms and government are mandated to accept cash.

Legal tender is any currency is said to be declared legal by a government. So, there are many governments who tend to issue a flat currency and then they tend to make it legal tender thus by setting it as the standard.

There are many nations who tend to designate coins and banknotes as the legal tender, while credit cards, personal checks, and other comparable non-cash forms of payment are typically not.

Hence, legal tender is any form of payment recognized by a government.

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