§ 9-32.1-5 - Determining money of the claim. - Rhode Island Statutes

SECTION 9-32.1-5

   § 9-32.1-5  Determining money of the claim.– (a) The money in which the parties to a transaction have agreed that payment isto be made is the proper money of the claim for payment.

   (b) If the parties to a transaction have not otherwiseagreed, the proper money of the claim, as in each case may be appropriate, isthe money:

   (1) Regularly used between the parties as a matter of usageor 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 theparticular commodity or service involved; or

   (3) In which the loss was ultimately felt or will be incurredby the party claimant.