State Codes and Statutes

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.

CREDIT(S)

(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 15-903.
Legislative History of Laws
For legislative history of D.C. Law 11-85, see Historical and Statutory Notes following § 15-901.
Uniform Law
This section is based upon § 4 of the Uniform Foreign-Money Claims Act. See 13 Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.

Current through September 13, 2012

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.

CREDIT(S)

(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)

Current through September 13, 2012