Your Cash Not Good Enough To Buy iPhone Anymore

In a move to prevent unauthorized resellers from buying them, Apple has moved to require a credit or debit card be used to purchase any iPhone from now on. That's right, you now cannot go into an Apple store and purchase an iPhone with cash. Apple is also limiting iPhone sales to two per person. Many people have apparently purchased multiple iPhones to resell them, including those looking to unlock the phones so they work on networks other than AT&T.
Thus we come to the real reason behind this decision-Apple believes 250,000 iPhones sold so far were purchased with the intent of unlocking and resale.

At first I thought this would be illegal, since our money says it is "legal tender for all debts, public and private." And it's true if you owe someone a debt, they cannot refuse cash. However, according to the US Treasury website,

There is no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.

Since you are buying a product, Apple apparently has the right to make the credit card only policy. Of course, this may be challenged in court if someone has the determination to sue Sir Steve over this.

read more | digg story