(735 ILCS 5/12-634) (from Ch. 110, par. 12-634)
Sec. 12-634. 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.
(Source: P.A. 86-1291.)
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Last modified: February 18, 2015