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.
Code 1950, § 6-358; 1964, c. 219, § 8.3-107; 1992, c. 693.
Structure Code of Virginia
Title 8.3A - Commercial Code - Negotiable Instruments
§ 8.3A-104. Negotiable instrument
§ 8.3A-105. Issue of instrument
§ 8.3A-106. Unconditional promise or order
§ 8.3A-107. Instrument payable in foreign money
§ 8.3A-108. Payable on demand or at definite time
§ 8.3A-109. Payable to bearer or to order
§ 8.3A-110. Identification of person to whom instrument is payable
§ 8.3A-113. Date of instrument
§ 8.3A-114. Contradictory terms of instrument
§ 8.3A-115. Incomplete instrument
§ 8.3A-116. Joint and several liability; contribution
§ 8.3A-117. Other agreements affecting instrument
§ 8.3A-118. Statute of limitations
§ 8.3A-118.1. Statute of limitations on deposit accounts and certificates of deposit