§ 5-1601. Definitions. As used in this title the following terms shall have the following meanings: 1. “Euro” shall mean the currency of participating member states of the European Union that adopt a single currency in accordance with the treaty on European Union signed February seventh, nineteen hundred ninety-two. 2. “Introduction of the euro” shall […]
§ 5-1602. Continuity of contract. 1. (a) If a subject or medium of payment of a contract, security or instrument is a currency that has been substituted or replaced by the euro, the euro will be a commercially reasonable substitute and substantial equivalent that may be either: (i) used in determining the value of such […]
§ 5-1603. Effect of agreements. The provisions of this title shall not alter or impair and shall be subject to any agreements between parties with specific reference to or agreement regarding the introduction of the euro.
§ 5-1604. Application. 1. Notwithstanding the uniform commercial code or any other law of this state, this title shall apply to all contracts, securities and instruments, including contracts with respect to commercial transactions, and shall not be deemed to be displaced by any other law of this state. 2. In circumstances of currency alteration, other […]
