New Jersey Statutes 2A:49A-36. Replacement of ECU by Euro in contract, security, or instrument references
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Terms Used In New Jersey Statutes 2A:49A-36
- Contract: A legal written agreement that becomes binding when signed.
3. a. When the Euro first becomes the monetary unit of participating member states of the European Union, references to the ECU in a contract, security or instrument shall be replaced by references to the Euro at the rate of one Euro to one ECU.
b. If is it unclear that a contractual reference to the ECU is a reference to the official definition of the ECU, it shall be presumed to be a reference to the ECU, which presumption shall be rebuttable, taking into account the intentions of the parties.
L.2000,c.23,s.3.