1. (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.

2. (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. (1) Regularly used between the parties as a matter of usage or course of dealing;
   2. (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. (3) In which the loss was ultimately felt or will be incurred by the party claimant.

History

Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791

Editor's Notes

Uniform Law: This section is based upon § 4 of the Uniform Foreign-Money Claims Act.

Prior Codifications

1981 Ed., § 15-903.