§ 9-32.1-5. Determining money of the claim.
(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 of Section.P.L. 2009, ch. 248, § 1; P.L. 2009, ch. 266, § 1.
Structure Rhode Island General Laws
Title 9 - Courts and Civil Procedure – Procedure Generally
Chapter 9-32.1 - Uniform Foreign Money Claims Act
Section 9-32.1-1. - Short title.
Section 9-32.1-2. - Definitions.
Section 9-32.1-4. - Variation by agreement.
Section 9-32.1-5. - Determining money of the claim.
Section 9-32.1-6. - Determining the amount of money of certain contract claims.
Section 9-32.1-7. - Asserting and defending a foreign money claim.
Section 9-32.1-9. - Conversions of foreign money in distribution proceeding.
Section 9-32.1-10. - Prejudgment and judgment interest.
Section 9-32.1-11. - Enforcement of foreign judgments.
Section 9-32.1-13. - Effect of currency revalorization.
Section 9-32.1-14. - Supplementary general principles of law.
Section 9-32.1-15. - Uniformity of application and construction.