Black's Law Dictionary, Sixth Edition, p. 1128

"Pay, v.  To discharge debt by tender of payment due; to deliver to a creditor the value of a debt, either in money [gold and silver, not "notes"] or in goods, for his acceptance.  U.C.C. §§2-511, 3-604.  To compensate for goods, services or labor.  See also Discharge; Payment."

[Black's Law Dictionary, Sixth Edition, p. 1128]