LegalFix
Sign In

Section 9-32.1-5 Determining money of the claim.

RI Gen L § 9-32.1-5 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

§ 9-32.1-5. Determining money of the claim. (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 of Section. (P.L. 2009, ch. 248, § 1; P.L. 2009, ch. 266, § 1.)

Previous Section
Section 9-32.1-4 Variation by agreement.
Next Section
Section 9-32.1-6 Determining the amount of money of certain contract claims.