Money Order Law and Legal Definition
A money order is a negotiable instrument requiring the issuer to pay a certain sum of money on demand to a specific person or organization.
Money orders are issued by governments (usually through postal authorities), banks, and other institutions to purchasers who pay a service fee in addition to the face amount of the money order. They are payable on demand in cash, they are a generally accepted means of payment. The American Express Co. began issuing money orders in 1882.
Legal Definition list
Related Legal Terms
- Action for Money had and Received
- Action for Money Lent
- Action for Money Paid
- Adequate and Full Consideration in Money or Money’s Worth
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