Virginia § 8.01-465.25 Effect of substitution of currency by issuing authority

Virginia Statutes

§ 8.01-465.25 — Effect of substitution of currency by issuing authority

Virginia § 8.01-465.25

Title 8.01Civil Remedies and Procedure

Ch. 17.3UNIFORM FOREIGN-MONEY CLAIMS ACT

This text of Virginia § 8.01-465.25 (Effect of substitution of currency by issuing authority) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 8.01-465.25 (2026).

Text

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. If such substitution occurs 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.

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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. If such substitution occurs 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.