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
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Last revised: Thursday, May 28, 2009