Nevada § 17.580 - Determining amount of money of certain contract claims

§ 17.580. Determining amount of money of certain contract claims

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 date of conversion. 2. If an amount contracted to be paid in a foreign money is to be measured by a different

money at the rate of exchange prevailing on a date before default, that rate of exchange

applies only to payments made within a reasonable time after default, not exceeding

30 days. Thereafter, conversion is made at the bank-offered spot rate on the date of conversion. 3. A monetary claim is neither usurious nor unconscionable because the agreement on

which it is based provides that the amount of the debtor's obligation to be paid on

the debtor's money, when received by the creditor, must equal a specified amount of

the foreign money of the country of the creditor. If, because of unexcused delay in payment of a judgment or award, the amount received

by the creditor does not equal the amount of the foreign money specified in the agreement,

the court or arbitrator shall amend the judgment or award accordingly.