Sec. 3.107. INSTRUMENT PAYABLE IN FOREIGN MONEY. 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.
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 3 - Negotiable Instruments
Subchapter A. General Provisions and Definitions
Section 3.104. Negotiable Instrument
Section 3.105. Issue of Instrument
Section 3.106. Unconditional Promise or Order
Section 3.107. Instrument Payable in Foreign Money
Section 3.108. Payable on Demand or at Definite Time
Section 3.109. Payable to Bearer or to Order
Section 3.110. Identification of Person to Whom Instrument Is Payable
Section 3.111. Place of Payment
Section 3.113. Date of Instrument
Section 3.114. Contradictory Terms of Instrument
Section 3.115. Incomplete Instrument
Section 3.116. Joint and Several Liability; Contribution
Section 3.117. Other Agreements Affecting Instrument