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New Jersey Statutes, Title: 2A, ADMINISTRATION OF CIVIL AND CRIMINAL JUSTICE
Chapter 49a:
Section: 2A:49a-5: Proper money
5. 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) regularly used between the parties as a matter of usage or course of dealing;
(2) used at the time of a transaction in international trade, by trade usage or common practice, for valuing or settling transactions in the particular commodity or service involved; or
(3) in which the loss was ultimately felt or will be incurred by the party claimant.
L.1993,c.317,s.5.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 2a:49a-5 (if available):
Court decisions that cite this statute:
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