Practice question
Explain why the legal-tender rule does not make every bank or electronic wage payment unlawful.
Legal references
- Labor Code, DOLE consolidated 2022 edition, specified articles: https://natlex.ilo.org/dyn/natlex2/natlex2/files/download/15242/PHL15242%202022.pdf — Articles 102–105.
- DOLE Labor Advisory 26 s. 2020, payment through transaction accounts: https://dole.gov.ph/news/labor-advisory-no-26-20-payment-of-wages-and-other-monetary-benefits-through-transaction-accounts/; DOLE primary presentation: https://www.ilo.org/media/238611/download
- BSP 2020 Financial Inclusion Report, implementation of LA 26-20: https://www.bsp.gov.ph/Media_And_Research/Year-end%20Reports%20on%20BSP%20Financial%20Inclusion%20Initiatives/2020/microfinance_2020.pdf
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