TITLE 10

ISSUES, TRIAL AND JUDGMENT IN CIVIL ACTIONS

CHAPTER 15

UNIFORM FOREIGN-MONEY CLAIMS ACT

10-1504.  Determining money of the claim. (a) The money in which the parties to a transaction have agreed that payment is to be made is the proper money of the claim for payment.

(b)  If the parties to a transaction have not otherwise agreed, the proper money of the claim, as in each case may be appropriate, is the money:

(1)  Regularly used between the parties as a matter of usage or course of dealing;

(2)  Used at the time of a transaction in international trade, by trade usage or common practice, for valuing or settling transactions in the particular commodity or service involved; or

(3)  In which the loss was ultimately felt or will be incurred by the party claimant.

History:

[10-1504, added 2001, ch. 329, sec. 1, p. 1156.]