Illinois Compiled Statutes 735 ILCS 5/12-634 – Determining money of the claim
Current as of: 2024 | Check for updates
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(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
(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
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usage or course of dealing;
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(2) used at the time of a transaction in
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international trade, by trade usage or common practice, for valuing or settling transactions in the particular commodity or service involved; or
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(3) in which the loss was ultimately felt or will be
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incurred by the party claimant.
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