- basis o payment shall be the val e o the rreny at the time the obligation as establishe, nless there is ontrary agreement (1250) - inlation is the sharp inrease o money or reit or both itho t a orresponing inrease in b siness transation res lting in s bstantial & ontin ing rise in the general prie level; - eets o extraorinary inlation are appliable only hen there is an oiial elaration by ompetent a thorities.