Alabama § 8-4-3 - Applicability of Rate of Exchange in Determining Amount Due and Damages for Nonpayment.
Full text of Alabama Code of Alabama § 8-4-3 — Applicability of Rate of Exchange in Determining Amount Due and Damages for Nonpayment., with citation guidance and answers to common questions.
§ 8-4-3. Applicability of Rate of Exchange in Determining Amount Due and Damages for Nonpayment.
(a) If the amount in a bill of exchange specified is expressed in money of the United States, the amount due thereon and the damages allowed for the nonpayment thereof must be ascertained at the time of the demand of payment or notice of nonpayment without reference to the rate of exchange between this state and the place on which such bill was drawn.
(b) If the amount in a bill of exchange specified is expressed in money or currency of any foreign country, then the amount due, exclusive of the damages payable thereon, must be ascertained and determined by the rate of exchange, or the value of such foreign currency at the time of the demand of payment.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 8-4-3
What does Code of Alabama § 8-4-3 cover?
Section 8-4-3 ("Applicability of Rate of Exchange in Determining Amount Due and Damages for Nonpayment.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 8-4-3?
A common citation format is "Code of Alabama § 8-4-3" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 8-4-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.