Title 32 — Judicial Remedies

As used in this chapter, unless the context otherwise requires: 1. "Action" means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim. 2. "Bank-offered spot rate" means the spot rate of exchange at whic…

This chapter applies only to a foreign-money claim in an action or distribution proceeding. This chapter applies to foreign-money issues even if other law under the conflict of laws rules of this state applies to other issues in the action or distribution proceeding.

The effect of this chapter may be varied by agreement of the parties made before or after commencement of an action or distribution proceeding or the entry of judgment. Parties to a transaction may agree upon the money to be used in a transaction giving rise to a foreign-money cl…

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. 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. Regu…

1. If an amount contracted to be paid in a foreign money is measured by a specified amount of a different money, the amount to be paid is determined on the conversion date. 2. If an amount contracted to be paid in a foreign money is to be measured by a different money at the rate…

1. A person may assert a claim in a specified foreign money. If a foreign-money claim is not asserted, the claim is in United States dollars. 2. An opposing party may allege and prove that a claim, in whole or in part, is in a different money than that asserted by the claimant. 3…

The rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in a distribution proceeding. A foreign-money claimant in a distribution proceeding shall assert its claim in the named fore…

1. With respect to a foreign-money claim, recovery of prejudgment or preaward interest and the rate of interest to be applied in the action or distribution proceeding, except as provided in subsection 2, are matters of the substantive law governing the right to recovery under the…

1. If an action is brought to enforce a judgment of another jurisdiction expressed in a foreign money and the judgment is recognized in this state as enforceable, the enforcing judgment must be entered as provided in section 32-41-07, whether or not the foreign judgment confers 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 t…

Unless displaced by this chapter, the principles of law and equity, including the law merchant, and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating causes…