New Jersey § 2a:49a-37
Full text of New Jersey New Jersey Statutes § 2a:49a-37, with citation guidance and answers to common questions.
§ 2a:49a-37.
a. If a subject or medium of payment of a contract, security or instrument is a currency
that has been substituted or replaced by the Euro, the Euro shall be a commercially
reasonable substitute and substantial equivalent that may be either: (1) used in determining the value of that currency; or (2) tendered, in each case at the conversion rate specified in, and otherwise calculated
or rounded, as appropriate, in accordance with, the regulations adopted by the Council
of the European Union. b. If a subject or medium of payment of a contract, security or instrument is the
ECU, the Euro shall be a commercially reasonable substitute and substantial equivalent
that may be either: (1) used in determining the value of the ECU; or (2) tendered, in each case at the conversion rate specified in, and otherwise calculated
or rounded, as appropriate, in accordance with, the regulations adopted by the Council
of the European Union. c. Performance of any obligations described in subsection a. or b. of this section
may be made in the currency or currencies originally designated in the contract, security
or instrument, so long as the currency or currencies remain legal tender, or in Euros,
but not in any other currency, if that other currency has been substituted or replaced
by the Euro or is a currency that is considered a denomination of the Euro and has
a fixed conversion rate with respect to the Euro.
Frequently Asked Questions About New Jersey § 2a:49a-37
What does New Jersey Statutes § 2a:49a-37 cover?
Section 2a:49a-37 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 2a:49a-37?
A common citation format is "New Jersey Statutes § 2a:49a-37" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 2a:49a-37 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.