§ 1541. Temporarily determining the United States dollar value of foreign-money claims for limited purposes
(a) For the limited purpose of facilitating the enforcement of provisional remedies in an action, (i) the value in United States dollars of assets to be seized or restrained pursuant to a writ of attachment, garnishment, execution, or other legal process, (ii) the amount of United States dollars at issue for assessing costs, or (iii) […]
§ 1542. Effect of currency revalorizations
(a) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substituted a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing […]
§ 1543. Supplementary general principles of law
Unless displaced by particular provisions of this chapter, the principles of law and equity, including the law merchant, and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating causes, supplement its provisions.
§ 1544. Uniformity of application and construction
The provisions of this chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states and territories enacting it.
§ 1545. Severability clause
If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
§ 1537. Judgments and awards on foreign-money claims: times of money conversion: form of judgment
(a) Except as provided in subsection (c) of this section, a judgment or arbitration award on a foreign-money claim must be stated in amount of the money of the claim. (b) The judgment or award is payable in that foreign money or, at the option of the debtor, in the amount of United States dollars […]
§ 1538. Conversions of foreign money in a distribution proceeding
The rate of exchange prevailing at or near the closing of business on the day the proceeding is initiated shall govern all exchanges of foreign-money in a distribution proceeding. A foreign-money claimant in a distribution proceeding must assert its claim in the named foreign money and show the amount of United States dollars resulting from […]
§ 1539. Pre-judgment and judgment interest
(a) With respect to a foreign-money claim, recovery of pre-judgment interest and the rate of interest to be applied in the action or distribution proceeding are matters of the substantive law governing the right to recovery under the conflict of laws rules of this territory. (b) Notwithstanding subsection (a) of this section, an increase or […]
§ 1540. Enforcement of foreign judgments
(a) Subject to subsections (b) and (c) of this section, if an action is brought to enforce a judgment of another jurisdiction expressed in a foreign money and the judgment is recognized in this territory as enforceable, the enforcing judgment must be entered as provided in section 1537 of this title whether or not the […]
§ 1531. Definitions
In this chapter: (1) “Action” means a judicial proceeding or arbitration in which a money payment may be awarded or enforced in respect of a foreign money claim. (2) “Conversion date” means the banking day next before the date of which money is, in accordance with this chapter, (i) paid to a judgment creditor; or […]