Determining money of the claim.

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(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 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 commonpractice, 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.

Source: L. 90: Entire article added, p. 878, § 1, effective January 1, 1991.


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