§ 1C-1831 – Effect of currency revalorization.
1C-1831. 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 shall be treated as if expressed or incurred in the new money at […]
§ 1C-1832 – Supplementary general principles of law.
1C-1832. Supplementary general principles of law. Unless displaced by particular provisions of this Article, 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 shall supplement its provisions. (1995, c. 213, […]
§ 1C-1833 – Uniformity of application and construction.
1C-1833. Uniformity of application and construction. This Article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this Article among states enacting it. (1995, c. 213, s. 1.)
§ 1C-1834 – Short title.
1C-1834. Short title. This Article may be cited as the North Carolina Foreign-Money Claims Act. (1995, c. 213, s. 1.)
§ 1C-1830 – Determining United States dollar value of assets to be seized or restrained.
1C-1830. Determining United States dollar value of assets to be seized or restrained. (a) Computations under this section shall 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 […]
§ 1C-1820 – Definitions.
1C-1820. Definitions. As used in this Article: (1) "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. (2) "Bank-offered spot rate" means the spot rate of exchange at which a bank will sell foreign money at a spot rate. (3) […]
§ 1C-1821 – Scope of Article.
1C-1821. Scope of Article. (a) This Article applies only to a foreign-money claim in an action or distribution proceeding. (b) This Article 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. (1995, c. 213, s. 1.)
§ 1C-1822 – Variation by agreement.
1C-1822. Variation by agreement. (a) The effect of this Article 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 […]
§ 1C-1823 – Determining proper money of the claim.
1C-1823. Determining proper 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 […]
§ 1C-1824 – Determining amount of the money of certain contract claims.
1C-1824. Determining amount of the money of certain contract claims. (a) If an amount contracted to be paid in a foreign money is measured by a specified amount of a different money, the amount to be paid shall be determined on the conversion date. (b) If an amount contracted to be paid in a foreign […]