10-1512. EFFECT OF CURRENT REVALORIZATION. (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.
History:
[10-1512, added 2001, ch. 329, sec. 1, p. 1159.]
Structure Idaho Code
Title 10 - ISSUES, TRIAL AND JUDGMENT IN CIVIL ACTIONS
Chapter 15 - UNIFORM FOREIGN-MONEY CLAIMS ACT
Section 10-1501 - DEFINITIONS.
Section 10-1503 - VARIATION BY AGREEMENT.
Section 10-1504 - DETERMINING MONEY OF THE CLAIM.
Section 10-1505 - DETERMINING AMOUNT OF THE MONEY OF CERTAIN CONTRACT CLAIMS.
Section 10-1506 - ASSERTING AND DEFENDING FOREIGN-MONEY CLAIM.
Section 10-1508 - CONVERSIONS OF FOREIGN MONEY IN DISTRIBUTION PROCEEDING.
Section 10-1509 - PREJUDGMENT AND JUDGMENT INTEREST.
Section 10-1510 - ENFORCEMENT OF FOREIGN JUDGMENTS.
Section 10-1512 - EFFECT OF CURRENT REVALORIZATION.
Section 10-1513 - SUPPLEMENTARY GENERAL PRINCIPLES OF LAW.
Section 10-1514 - UNIFORMITY OF APPLICATION AND CONSTRUCTION.
Section 10-1515 - SHORT TITLE.