State Act

Portuguese Civil Code, 1867

Article 727 – Nominal nature of cash transactions - Where the payment is to be done as per coin in circulation, the debtor shall pay the same numerical sum, even if the value of the currency has changed after the contract, except if agreed otherwise. § 1 - Where in addition to the stipulation for payment in escudos there is a provision to effect payment in coin, without mentioning the type thereof, the debtor shall effect the payment in the coin in circulation at the time of payment, provided it is of the metal already stipulated. § 2 - Stipulations made in any contract with agreed penalties or on account of damages for non-performance or rescission of the same contracts, shall be satisfied in accordance with rate of valuation or devaluation at the time of its payment.