78B-5-405. Determining the money of the claim.
125 words·~1 min read·
/ut/title-78b/chapter-5/78b-5-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
78B-5-405. Determining the money of the claim.
(1)Except as provided by Subsection
(2), the proper money of the claim is, as in each case may be appropriate, the money:
(a)regularly used between the parties as a matter of usage or course of dealing;
(b)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
(c)in which the loss was ultimately felt or will be incurred by a party.
(2)The money in which the parties have contracted that a payment be made is the proper money of the claim for that payment.
Renumbered and Amended by Chapter 3 , 2008 General Session