New Jersey § 2A:49A-13 Substitution of new foreign money

New Jersey Statutes

§ 2A:49A-13 — Substitution of new foreign money

New Jersey § 2A:49A-13

Title 2AADMINISTRATION OF CIVIL AND CRIMINAL JUSTICE

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Bluebook

N.J. Stat. Ann. § 2A:49A-13 (2026).

Text

13.

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 country establishes for the payment of like obligations or losses denominated in the former money.

b.If substitution occurs under subsection a. of this section after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money. L.1993,c.317,s.13.

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13. 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 country establishes for the payment of like obligations or losses denominated in the former money. b. If substitution occurs under subsection a. of this section after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money. L.1993,c.317,s.13.