Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > Misc > Off-topic
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 07-31-2009, 03:45 PM   #31
jello_g
4th Gear Member
 
jello_g's Avatar
 
Join Date: May 2002
Location: Toronto, ON, Canada
Posts: 722


Quote:
Originally Posted by BMW_7 View Post
^ 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 View Post
...accept ANY legal tender...
And legal tender is specified in my previous post.
__________________
1988 BMW Dinan M3 2.6 Stage II

Gerald Lau's Facebook profile
jello_g is offline   Reply With Quote
Old 07-31-2009, 03:48 PM   #32
NOTORIOUS VR
6th Gear Member
 
NOTORIOUS VR's Avatar
 
Join Date: Mar 2004
Location: Toronto
Posts: 3,168
Quote:
Originally Posted by BMW_7 View Post
^ 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.
__________________
E36 DYNO TUNING WIRING PARTS
NOTORIOUS VR is offline   Reply With Quote
Old 07-31-2009, 03:57 PM   #33
BMW_7
Econobimmer Racing
 
BMW_7's Avatar
 
Join Date: Dec 2002
Location: Kiev
Posts: 8,364
Send a message via AIM to BMW_7 Send a message via MSN to BMW_7
Quote:
Originally Posted by jello_g View Post
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
__________________
Vitaliy



Helprace, a helpdesk & community platform
BMW_7 is offline   Reply With Quote
Old 07-31-2009, 04:02 PM   #34
BigD
the misanthropist
 
BigD's Avatar
 
Join Date: May 2002
Location: a house
Posts: 6,249
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
__________________
BigD is online now   Reply With Quote
Old 07-31-2009, 04:04 PM   #35
jello_g
4th Gear Member
 
jello_g's Avatar
 
Join Date: May 2002
Location: Toronto, ON, Canada
Posts: 722
Quote:
Originally Posted by BMW_7 View 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
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!
__________________
1988 BMW Dinan M3 2.6 Stage II

Gerald Lau's Facebook profile
jello_g is offline   Reply With Quote
Old 07-31-2009, 04:10 PM   #36
BigD
the misanthropist
 
BigD's Avatar
 
Join Date: May 2002
Location: a house
Posts: 6,249
Quote:
Originally Posted by jello_g View Post
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.
__________________
BigD is online now   Reply With Quote
Old 07-31-2009, 05:04 PM   #37
Blades
Your opinion is to long
 
Blades's Avatar
 
Join Date: Feb 2005
Location: Mississauga
Posts: 5,368
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
__________________
-=[ BL/\DES ]=-



All it takes is one bad day to reduce the sanest man alive to lunacy. Thats how far the world is from where i am. just one bad day. - Unknown
Blades is offline   Reply With Quote
Old 07-31-2009, 05:22 PM   #38
jello_g
4th Gear Member
 
jello_g's Avatar
 
Join Date: May 2002
Location: Toronto, ON, Canada
Posts: 722
Quote:
Originally Posted by BigD View Post
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.]
__________________
1988 BMW Dinan M3 2.6 Stage II

Gerald Lau's Facebook profile

Last edited by jello_g; 07-31-2009 at 08:38 PM. Reason: Value of copper previously mentioned, discussed more here.
jello_g is offline   Reply With Quote
Old 07-31-2009, 07:12 PM   #39
Trouble65
6th Gear Member
 
Join Date: Aug 2008
Location: Niagara Region
Posts: 1,790
LOL, good one!
Trouble65 is offline   Reply With Quote
Old 07-31-2009, 08:40 PM   #40
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,850
Quote:
Originally Posted by Redster View Post
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 is offline   Reply With Quote
Old 07-31-2009, 08:42 PM   #41
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,850
Quote:
Originally Posted by jello_g View Post
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.
__________________
sirex is offline   Reply With Quote
Old 07-31-2009, 08:50 PM   #42
Deep 3.2TL
6th Gear Member
 
Deep 3.2TL's Avatar
 
Join Date: May 2004
Location: Milton
Posts: 3,233
Quote:
Originally Posted by sirex View Post
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...
Deep 3.2TL is offline   Reply With Quote
Old 07-31-2009, 08:52 PM   #43
jello_g
4th Gear Member
 
jello_g's Avatar
 
Join Date: May 2002
Location: Toronto, ON, Canada
Posts: 722
Quote:
Originally Posted by sirex View Post
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.
__________________
1988 BMW Dinan M3 2.6 Stage II

Gerald Lau's Facebook profile

Last edited by jello_g; 07-31-2009 at 09:00 PM. Reason: Got the dates wrong. Corrected.
jello_g is offline   Reply With Quote
Old 07-31-2009, 09:42 PM   #44
Junaid
4th Gear Member
 
Join Date: Nov 2007
Location: Toronto
Posts: 670
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.
__________________


Needs more mods
Junaid is offline   Reply With Quote
Old 07-31-2009, 10:13 PM   #45
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,850
Quote:
Originally Posted by jello_g View Post
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........
__________________
sirex is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 01:42 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Maxbimmer Copyright 2001 - 2015