2A:49A-5 - Proper money - New-jersey Statutes

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Statutes > New-jersey > Title-2a > Section-2a-49a > 2a-49a-5

2A:49A-5.    Proper money
    5. 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.

   L.1993,c.317,s.5.

State Codes and Statutes

Statutes > New-jersey > Title-2a > Section-2a-49a > 2a-49a-5

2A:49A-5.    Proper money
    5. 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.

   L.1993,c.317,s.5.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-jersey > Title-2a > Section-2a-49a > 2a-49a-5

2A:49A-5.    Proper money
    5. 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.

   L.1993,c.317,s.5.