Connecticut § 50a-62 Effect of currency revalorizations.

Connecticut Statutes

§ 50a-62 — Effect of currency revalorizations.

Connecticut·Title 50a International Law·Ch. 861a Uniform Foreign-Money Claims Act

(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 and for the same purposes, the obligation or the loss shall be treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.

(b)If due to delay in payment, the amount of a judgment does not yield the required amount of the creditor's money, the obligation to pay an additional sum will support another action for the amount remaining unpaid, and that obligation is not merged in the judgment.

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(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 and for the same purposes, the obligation or the loss shall be treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money. (b) If due to delay in payment, the amount of a judgment does not yield the required amount of the creditor's money, the obligation to pay an additional sum will support another action for the amount remaining unpaid, and that obligation is not merged in the judgment.

Connecticut § 50a-62 (Effect of currency revalorizations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.