Jordan got towed....he payed them back :) (in pennies) - Page 3

jello_g · 07-31-2009, 03:45 PM

Quote:

Originally Posted by BMW_7

^ correct. but as mentioned before to eliminate debt...

Having a tough time trying to find the relevant statute that makes this exception for debt repayment. Got a link?

Quote:

Originally Posted by BMW_7

...accept ANY legal tender...

And legal tender is specified in my previous post.

NOTORIOUS VR · 07-31-2009, 03:48 PM

Quote:

Originally Posted by BMW_7

^ correct. but as mentioned before to eliminate debt they can accept ANY legal tender.. as far as I understand you can pay tow truck companies in pennies and they must accept it.

No they don't... There's no way you can bring a box full of pennies to a tow truck driver for a $150 bill... besides him wanting to smash your face in with them that's just a stupid thing to do.

Also, they CAN choose to accept it. but they don't have to. You can easily go to a bank to get it changed into proper denominations.

BMW_7 · 07-31-2009, 03:57 PM

Quote:

Originally Posted by jello_g

Having a tough time trying to find the relevant statute that makes this exception for debt repayment. Got a link?

And legal tender is specified in my previous post.

it's american

http://www.snopes.com/business/money/pennies.asp

Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code states:

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.

What this statute means, in the words of the United States Treasury, is that "[A]ll United States money . . . is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal law mandating that a person or organization must accept currency or coins as for payment for goods and/or services."

a tow truck company is a creditor, its not selling you goods or services

BigD · 07-31-2009, 04:02 PM

I think the difference is that they are holding your car. I don't know for a fact but I'd guess that cases where you HAVE to pay, they have to accept the official currency - but still probably limited to the "legal tender" definition, which is clearly different in Canada than in the video. I do know for a fact that a private business has the right to tell you to pay any way they want. If I say I only take grass clippings as payment for my services, no one can stop me - unless, again I *think*, my services are required (like a utility, healthcare, taxes, or impound etc).

EDIT: nmind, 7 laid it out above

jello_g · 07-31-2009, 04:04 PM

Quote:

Originally Posted by BMW_7

it's american

http://www.snopes.com/business/money/pennies.asp

Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code states:

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.

What this statute means, in the words of the United States Treasury, is that "[A]ll United States money . . . is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal law mandating that a person or organization must accept currency or coins as for payment for goods and/or services."

a tow truck company is a creditor, its not selling you goods or services

The Americans make no mention of limitations. Pulling off a similar stunt in Canada may not generate a similar outcome. My question about debt repayment is still open for an answer in respect to Canadian law.

Kids, don't try this at home. Posted for entertainment value only!

BigD · 07-31-2009, 04:10 PM

Quote:

Originally Posted by jello_g

Kids, don't try this at home. Posted for entertainment value only!

I don't think anyone here is going to try what they saw in the video, any more than they will what they see in wingsuit videos. It's just absolutely badass to see these cocksuckers get a little in return.

Blades · 07-31-2009, 05:04 PM

I remember a story of some guy buying a car in ontario with pennies. I can't find it but here is one in the US ..

http://news.ninemsn.com.au/article.aspx?id=339881

jello_g · 07-31-2009, 05:22 PM

Quote:

Originally Posted by BigD

I don't think anyone here is going to try what they saw in the video, any more than they will what they see in wingsuit videos. It's just absolutely badass to see these cocksuckers get a little in return.

My post is in jest of course.. and I agree it was fun to watch.

I'd have no problem accepting a large sum denominated in pennies only, provided the count was accurate and a good portion of the hoard were of the copper variety. (With copper at approx. $2.60/lb., the melt value of each cent is nearly double.)

[EDIT: Value of copper already mentioned by Dado in post #17, and may be a motivator to accept a large quantity provided you have the technology to separate the copper cents from the steel stuff currently pounded out by the mint.]

Trouble65 · 07-31-2009, 07:12 PM

LOL, good one!

sirex · 07-31-2009, 08:40 PM

Quote:

Originally Posted by Redster

If I chose yo inconvenience myself that's one thing, they didn't give me a choice by towing my car.

One thing (for those wanting to try this) a store does NOT have to accept all pennies. Law applies only when you try to eliminate a DEBT, then they have to accept any legal tender.

A store can just refuse to sell you something if you chose to pay with pennies.

you park illegally, inconvenience other people, then chose to be a burden on society by doing this?

tow trucks cant tow people in toornto for no reason. parking enforcements gotta be sent out. so why you hateing the tow people?

sirex · 07-31-2009, 08:42 PM

Quote:

Originally Posted by jello_g

My post is in jest of course.. and I agree it was fun to watch.

I'd have no problem accepting a large sum denominated in pennies only, provided the count was accurate and a good portion of the hoard were of the copper variety. (With copper at approx. $2.60/lb., the melt value of each cent is nearly double.)

[EDIT: Value of copper already mentioned by Dado in post #17, and may be a motivator to accept a large quantity provided you have the technology to separate the copper cents from the steel stuff currently pounded out by the mint.]

And guess what, YOU HAVE NO Clue what youre talking about.
Copper Penies no longer exist. They are 99% zinc. Enjoy your garbage metal.

Deep 3.2TL · 07-31-2009, 08:50 PM

Quote:

Originally Posted by sirex

you park illegally, inconvenience other people, then chose to be a burden on society by doing this?

tow trucks cant tow people in toornto for no reason. parking enforcements gotta be sent out. so why you hateing the tow people?

Burden on society by inconveniencing those who gouge because laws don't exist governing them? Surely you jest...

jello_g · 07-31-2009, 08:52 PM

Quote:

Originally Posted by sirex

And guess what, YOU HAVE NO Clue what youre talking about.
Copper Penies no longer exist. They are 99% zinc. Enjoy your garbage metal.

Copper was the main metal of composition in Canadian cents up to 1996. Zinc was used from 1997 thru 2007. Steel has been used since 1999.

Just because copper cents are not produced anymore doesn't mean the older coinage is completely eliminated from circulation.

Junaid · 07-31-2009, 09:42 PM

impound lots charge a per day fee, so if it takes them 3 days to count it, then they make $120 bucks assuming its 40 a day. York Regional Towing leaves when ever and returns whenever so they could take as long as they want. I had to get a car out of the inpound today, it was towed 4 am and i got it out around 6 and it cost $275.

sirex · 07-31-2009, 10:13 PM

Quote:

Originally Posted by jello_g

Copper was the main metal of composition in Canadian cents up to 1996. Zinc was used from 1997 thru 2007. Steel has been used since 1999.

Just because copper cents are not produced anymore doesn't mean the older coinage is completely eliminated from circulation.

ya youre going to make some serious coin from all those pennies after you factor in the cost of the pennies, then the cost of melting them down and stripping the copper off them........