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Section 39-4C-5 - Determining money of the claim.

NM Stat § 39-4C-5 (2019) (N/A)
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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: Laws 1991, ch. 181, § 5.

Applicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable to actions and distribution proceedings commenced after July 1, 1991.

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Section 39-4C-4 - Variation by agreement.
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Section 39-4C-6 - Determining amount of the money of certain contract claims.