Vendor v. Purchaser: Currency Exchange Rate for Payment

A vendor sued a purchaser for the price of goods delivered under a contract that stipulated payment in a foreign currency at the exchange rate prevailing on the date of delivery, arguing that the subsequent devaluation of the foreign currency justified applying the exchange rate at the date of the judgment instead of the contractually agreed upon date. The Court of Cassation quashed the lower court's decision, reasoning that the parties' agreement explicitly fixed the calculation date for the exchange rate to the date of delivery, and this contractual stipulation, which was not contrary to public policy, was binding upon the parties, precluding the retroactive application of a later devaluation.