Rule text
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.
Added by Laws 1994, c. 165, § 5, eff. Jan. 1, 1995.