Concept:An instrument used in place of legal tender is described as representative money.
Explanation:Legal tender is the money that the law compels people to accept in payment of debts.
Sometimes, banks and traders use an instrument instead of that official currency to settle a transaction.
Such an instrument is called representative money because it stands in place of, or represents, legal tender.
Commodity money has value of its own as a physical item, while fiat money is itself declared legal tender by the government.
Token money is a limited legal tender form of small coins.
Therefore, among the options, representative money is the one classified as an instrument used in lieu of legal tender.
Answer:D. Representative