Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid.
Structure Code of Alabama
Article 3 - Negotiable Instruments.
Part 1 - General Provisions and Definitions.
Section 7-3-101 - Short Title.
Section 7-3-103 - Definitions.
Section 7-3-102 - Subject Matter.
Section 7-3-104 - Negotiable Instrument.
Section 7-3-105 - Issue of Instrument.
Section 7-3-106 - Unconditional Promise or Order.
Section 7-3-107 - Instrument Payable in Foreign Money.
Section 7-3-108 - Payable on Demand or at Definite Time.
Section 7-3-109 - Payable to Bearer or to Order.
Section 7-3-110 - Identification of Person to Whom Instrument Is Payable.
Section 7-3-111 - Place of Payment.
Section 7-3-113 - Date of Instrument.
Section 7-3-114 - Contradictory Terms of Instrument.
Section 7-3-115 - Incomplete Instrument.
Section 7-3-116 - Joint and Several Liability; Contribution.
Section 7-3-117 - Other Agreements Affecting Instrument.