Dallas-based food chain to accept Mexican Pesos

(DallasMorningNews)-Starting Monday, patrons of the Dallas-based Pizza Patrón chain, which caters heavily to Latinos, will be able to purchase American pizzas with Mexican pesos.

www.dallasnews.com...

Theres a problem copying from that page,so i cant post more.
(Also to lazy to write it all out)
PLease visit the link given for the whole story.

I don't see much to this. If a business wants to accept currency other than U.S. Dollars, that's their business. They are accepting the burden of conversion, and feel that they are capturing an opportunity that exists.

Good for them... That's why it's called free enterprise.

that would $110.00 pesos for your $9.99 pizza special

I can understand businesses who chose use the US or Euro currency over their own country's currency, I've seen this in a few countries I have visited, especially in the Caribbean and South America....but an American business using Mexican pesos

According to www.moneyfactory.gov...

Legal Tender: A Definition

31 USC § 5103. Legal Tender

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

However, there is no Federal statute which mandates that private businesses must accept cash as a form of payment. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.

So if foreign gold or silver coins are not legal tender for debts incurred on American soil, then how now- magically- can foreign bills be used as legal tender? :shk: This restaurant will likely run into some trouble with this, as many are bound to see this as illegal.

It would seem to me that everyone in the US can't just decide to accept foreign currency on their own as payment for local goods and services sold on US soil. Or can they?

On the other hand, couldn't it also be argued that the US marketplace has been accepting Canadian coins, at least, for quite some time? Hand a cashier a canadian nickel, and it is always taken. At least in my own experience to this point in the US. Maybe a quarter here and there. But that's about as far as I've seen it go. These guys are flat out saying they are going to take a foreign currency in bills as a payment for pizza. To be or not to be, that is the question.

Originally posted by Mirthful Me
I don't see much to this. If a business wants to accept currency other than U.S. Dollars, that's their business. They are accepting the burden of conversion, and feel that they are capturing an opportunity that exists.

Good for them... That's why it's called free enterprise.

Exactly.

Not much more to be said...

I've been able to use Canadian money in the US on several occasions without any problems - and not just coins. It's really common in border towns.

If it gets them some extra business, good for them.

Originally posted by TrueAmerican
According to www.moneyfactory.gov...

Legal Tender: A Definition

31 USC § 5103. Legal Tender

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

However, there is no Federal statute which mandates that private businesses must accept cash as a form of payment. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.

So if foreign gold or silver coins are not legal tender for debts incurred on American soil, then how now- magically- can foreign bills be used as legal tender? :shk: This restaurant will likely run into some trouble with this, as many are bound to see this as illegal.

It would seem to me that everyone in the US can't just decide to accept foreign currency on their own as payment for local goods and services sold on US soil. Or can they?

On the other hand, couldn't it also be argued that the US marketplace has been accepting Canadian coins, at least, for quite some time? Hand a cashier a canadian nickel, and it is always taken. At least in my own experience to this point in the US. Maybe a quarter here and there. But that's about as far as I've seen it go. These guys are flat out saying they are going to take a foreign currency in bills as a payment for pizza. To be or not to be, that is the question.

Correct me if I am wrong, but legal tender means that one must accept US currency as payment of a debt, while they are free to refuse non-legal tender like foreign currency. Thus, a business can chose whether or not to accept Mexican pesos or other foreign currency, but could not refuse American currency and accept non-legal tender.

www.abovetopsecret.com...

As noted above, this thread already exists here on ATS. Please post your thoughts and comments in the existing thread.

Cheers
FredT

So a $10.00 pizza is now $10.00 pessos???? or do they adjust for the exchange lol?

Is it even legal to accept another currency?

I can see Mexicans getting mad it takes more pessos to buy a pizza then dollars.. when my dad sold his truck for 2k some Mexican wanted to buy it for 2,000 pessos. Crazy Mexicans.