Legislation
SECTION 3-107
Money
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 3, PART 1
Section 3--107. Money.
(1) An instrument is payable in money if the medium of exchange in
which it is payable is money at the time the instrument is made. An
instrument payable in "currency" or "current funds" is payable in money.
(2) A promise or order to pay a sum stated in a foreign currency is
for a sum certain in money and may be satisfied by payment of that
number of dollars which the stated foreign currency will purchase at the
buying sight rate for that currency on the day on which the instrument
is payable, or, if payable on demand, on the day of demand.
(1) An instrument is payable in money if the medium of exchange in
which it is payable is money at the time the instrument is made. An
instrument payable in "currency" or "current funds" is payable in money.
(2) A promise or order to pay a sum stated in a foreign currency is
for a sum certain in money and may be satisfied by payment of that
number of dollars which the stated foreign currency will purchase at the
buying sight rate for that currency on the day on which the instrument
is payable, or, if payable on demand, on the day of demand.