(815 ILCS 617/15)
Sec. 15.
Substituted currency does not change contract requirements.
None of the following shall have the effect of discharging or excusing
performance under any contract, security, or instrument, or give a party the
right
unilaterally to alter or terminate any contract, security, or instrument:
(1) The introduction of the euro.
(2) Tendering euros in connection with any obligation |
| in compliance with subsections (a) or (b) of Section 10.
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(3) Determining the value of any obligation in
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| compliance with subsections (a) or (b) of Section 10.
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(4) Calculating or determining the subject or medium
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| of payment of a contract, security, or instrument with reference to a substituted or replaced interest rate or other basis that is deemed a commercially reasonable substitute and substantial equivalent according to the terms of Section 10 of this Act.
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(Source: P.A. 90-268, eff. 7-30-97.)
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