Legal Definitions - cash

Definition: Cash refers to money or its equivalent, including currency, coins, negotiable checks, and balances in bank accounts. It can also refer to petty cash, which is currency kept on hand for incidental expenditures.

• When you go to the store and pay with paper bills or coins, you are using cash.
• If you deposit a check into your bank account and the funds become available for you to use, that is also considered cash.
• Many businesses keep a small amount of petty cash on hand to pay for small expenses like office supplies or snacks for employees.

These examples illustrate how cash can take different forms, including physical currency and digital balances in bank accounts. Petty cash is a specific type of cash that is used for small expenses and is kept on hand for convenience.