Question

Given reasons as to why credit money can be refused.

Answer 1

Money serves as the standard of deferred payment. Deferred payments refer to payments made on loans, salaries, pensions, insurance premiums, interests, and rents.
The necessary condition for deferred or credit payment is that the amount of repaid money should be the same as it was at the time of purchase of the good.
Since all the goods and services can be expressed in terms of money, it makes the future payments easy and functional which makes money the basis for generating credit in the economy.
But sometimes credit money can be refused to owe to the natural appreciation or depreciation of commodities with time due to which their monetary value at the time of deal does not match with their monetary value at the time of payment.