Section 39-4C-8 – 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 award on a foreign-money claim must be stated in an amount of the money of the claim. B. A judgment or award on a foreign-money claim is payable in that foreign money or, at the option of the debtor, in the amount […]
Section 39-4C-9 – Conversions of foreign money in distribution proceeding.
The rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in a distribution proceeding. A foreign-money claimant in a distribution proceeding shall assert its claim in the named foreign money and show the amount of United States dollars resulting […]
Section 39-4C-10 – Pre-judgment and judgment interest.
A. With respect to a foreign-money claim, recovery of pre-judgment or pre-award interest and the rate of interest to be applied in the action or distribution proceeding, except as provided in Subsection B of this section, are matters of the substantive law governing the right to recovery under the conflict-of-laws rules of this state. B. […]
Section 39-4C-11 – Enforcement of foreign judgments.
A. If an action is brought to enforce a judgment of another jurisdiction expressed in a foreign money and the judgment is recognized in this state as enforceable, the enforcing judgment must be entered as provided in Section 8 [39-4C-8 NMSA 1978] of the Uniform Foreign-Money Claims Act, whether or not the foreign judgment confers […]
Section 39-4C-12 – Determining United States dollar value of foreign-money claims for limited purposes.
A. Computations under this section are for the limited purposes of the section and do not affect computation of the United States dollar equivalent of the money of the judgment for the purpose of payment. B. For the limited purpose of facilitating the enforcement of provisional remedies in an action, the value in United States […]
Section 39-4C-13 – Effect of currency revalorization.
A. If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes 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 […]
Section 39-4C-14 – Supplementary general principles of law.
Unless displaced by particular provisions of the Uniform Foreign-Money Claims Act, 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. History: Laws 1991, ch. 181, § 14. […]
Section 39-4C-15 – Uniformity of application and construction.
The Uniform Foreign-Money Claims Act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of that act among states enacting it. History: Laws 1991, ch. 181, § 15. ANNOTATIONS Applicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable […]
Section 39-4C-16 – Severability clause.
If any provision of the Uniform Foreign-Money Claims Act or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of that act which can be given effect without the invalid provision or application, and to this end the provisions of that act are severable. History: […]
Section 39-4C-7 – Asserting and defending foreign-money claim.
A. A person may assert a claim in a specified foreign money. If a foreign-money claim is not asserted, the claimant makes the claim in United States dollars. B. An opposing party may allege and prove that a claim, in whole or in part, is in a different money than that asserted by the claimant. […]