Montana Code 25-9-705. Determining money of claim
25-9-705. Determining money of claim. (1) 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.
Terms Used In Montana Code 25-9-705
- Usage: means a reasonable and lawful public custom concerning transactions of the same nature as those which are to be affected thereby, existing at the place where the obligation is to be performed, and either known to the parties or so well established, general, and uniform that the parties must be presumed to have acted with reference thereto. See Montana Code 1-1-206
(2)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:
(a)regularly used between the parties as a matter of usage or course of dealing;
(b)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
(c)in which the loss was ultimately felt or will be incurred by the party claimant.