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Question
Is the following statement true or false? Give reasons to support your answer.
One rupee note is unlimited legal tender money in India.
Options
True
False
MCQ
True or False
Solution
This statement is true.
Explanation:
Yes, one rupee note is limitless legal tender in India. Unlimited legal tender money is one that must be accepted as a form of payment for any quantity. Nobody may refuse to receive it in whatever amount. All paper currency notes are unlimited legal tender money.
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