(1) 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.
(2) If the parties to a transaction have not otherwise agreed, the money of the claim, as in each case may be appropriate, is the money:
(a) Regularly used between the parties as a matter of usage or course of dealing;
(b) 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
(c) In which the loss was ultimately felt or will be incurred by the party claimant. [1991 c.202 §5]Section: Previous 24.230 24.240 24.250 24.255 24.260 24.265 24.270 24.275 24.280 24.285 24.290 24.295 24.300 24.305 24.310 Next
Last modified: August 7, 2008