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Current as of January 01, 2024 | Updated by FindLaw Staff
(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 under subsection (a) of this section 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.
Cite this article: FindLaw.com - District of Columbia Code Division II. Judiciary and Judicial Procedure § 15-911. Effect of currency revalorization. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-ii-judiciary-and-judicial-procedure/dc-code-sect-15-911/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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