(a)        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.

(b)        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)        Regularly used between the parties as a matter of usage or course of dealing;

(2)        Used at the time of a transaction in international trade, by trade usage or common practice, for valuing or settling transactions in the particular commodity or service involved; or

(3)        In which the loss was ultimately felt or will be incurred by the party claimant. (1995, c. 213, s. 1.)