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Section 39-4B-8 – Repealed.
History: Laws 1991, ch. 180, § 8; repealed by Laws 2009, ch. 142, § 12. ANNOTATIONS Repeals. — Laws 2009, ch. 142, § 12 repealed 39-4B-8 NMSA 1978, as enacted by Laws 1991, ch. 180, § 8, relating to saving clause, effective July 1, 2009. For provisions of former section, see the 2008 NMSA 1978 […]
Section 39-4B-9 – Repealed.
History: Laws 1991, ch. 180, § 9; repealed by Laws 2009, ch. 142, § 12. ANNOTATIONS Repeals. — Laws 2009, ch. 142, § 12 repealed 39-4B-9 NMSA 1978, as enacted by Laws 1991, ch. 180, § 9, relating to uniformity of interpretation, effective July 1, 2009. For provisions of former section, see the 2008 NMSA […]
Section 39-4C-1 – Short title.
Sections 1 through 16 [39-4C-1 to 39-4C-16 NMSA 1978] of this act may be cited as the Uniform Foreign-Money Claims Act. History: Laws 1991, ch. 181, § 1. ANNOTATIONS Applicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable to actions and distribution proceedings commenced after July 1, 1991.
Section 39-4C-2 – Definitions.
As used in the Uniform Foreign-Money Claims Act: A. “action” means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim; B. “bank-offered spot rate” means the spot rate of exchange at which a bank will sell foreign money at a spot rate; […]
Section 39-4C-3 – Scope.
A. The Uniform Foreign-Money Claims Act applies only to a foreign-money claim in an action or distribution proceeding. B. The Uniform Foreign-Money Claims Act applies to foreign-money issues even if other law under the conflict of laws rules of this state applies to other issues in the action or distribution proceeding. History: Laws 1991, ch. […]
Section 39-4C-4 – Variation by agreement.
A. The effect of the Uniform Foreign-Money Claims Act may be varied by agreement of the parties made before or after commencement of an action or distribution proceeding or the entry of judgment. B. Parties to a transaction may agree upon the money to be used in a transaction giving rise to a foreign-money claim […]
Section 39-4C-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) […]