Legal tender in the form of banknotes and coins that are readily acceptable for the settlement of debts.
Currency refers to various forms of money that are in circulation within an economy, serving as a medium of exchange for goods and services.
Interchangeable goods, securities, etc., that allow one to be replaced by another without loss of value. Bearer bonds and banknotes are notable examples. Additionally, perishable goods whose quantity can be estimated by number or weight fall under this category.
Lawful money refers to physical currency that a government has declared to be legally acceptable for financial transactions within its jurisdiction. This includes banknotes and coins that are officially recognized as a medium of exchange.
