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.
History: Laws 1991, ch. 181, § 5.
ANNOTATIONSApplicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable to actions and distribution proceedings commenced after July 1, 1991.