Oregon Statutes - Chapter 24 - Enforcement and Recognition of Foreign Judgments; Foreign-Money Claims - Section 24.315 - Effect of currency substitution.

(1) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.

(2) If substitution under subsection (1) of this section occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend, upon the motion of any party, the judgment or award by a like conversion of the former money. [1991 c.202 §13]

Section:  Previous  24.265  24.270  24.275  24.280  24.285  24.290  24.295  24.300  24.305  24.310  24.315  24.320  24.325  24.330  24.335  Next

Last modified: August 7, 2008