2A:49A-5 - Proper money - New Jersey Statutes

2A:49A-5.    Proper money 
    5.  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. 

   L.1993,c.317,s.5.