(a) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.
(b) If substitution under subsection (a) of this section occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money.
(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)
1981 Ed., § 15-911.
Uniform Law: This section is based upon § 12 of the Uniform Foreign-Money Claims Act.
Structure District of Columbia Code
Title 15 - Judgments and Executions; Fees and Costs. [Enacted title]
Chapter 9 - Uniform Foreign-Money Claims
§ 15–902. Variation by agreement
§ 15–903. Determining money of the claim
§ 15–904. Determining amount of the money of certain contract claims
§ 15–905. Asserting and defending a foreign-money claim
§ 15–906. Judgments and awards on foreign-money claims; times of money conversion; form of judgment
§ 15–907. Conversions of foreign money in distribution proceeding
§ 15–908. Prejudgment and judgment interest
§ 15–909. Enforcement of foreign judgments
§ 15–910. Determining United States dollar value of foreign-money claims for limited purposes
§ 15–911. Effect of currency revalorization