Contractual Interest Rate vs. Statutory Interest Rate in Breach of Contract
Synthèse Legislator
Généré par l'IAThe court reviewed an appeal concerning the calculation of interest in a contractual dispute, where the lower court awarded damages based on a specific contractual rate applied from the date of breach, though the governing statute suggested a different standard applied post-judgment. The court reasoned that although the statute governs post-judgment interest generally, the parties' explicit contractual agreement regarding interest rates controls for the pre-judgment period when a breach of contract is found, upholding the pre-judgment interest calculation based on the contract, while applying the statutory rate for the post-judgment period until satisfaction of the judgment.
Regeste Legislator
Généré par l'IAArt. 66 al. 1 LTF; Contractual Interest Rate vs. Statutory Interest Rate in Breach of Contract: The court reasoned that although the statute governs post-judgment interest generally, the parties' explicit contractual agreement regarding interest rates controls for the pre-judgment period when a breach of contract is found, upholding the pre-judgment interest calculation based on the contract, while applying the statutory rate for the post-judgment period until satisfaction of the judgment.
Mots-clés
Généré par l'IADispositions légales citées
Généré par l'IADécisions connexes
Généré par l'IAQuestions juridiques clés extraites par Legislator
Généré par l'IAThis provision was cited to regulate the costs of the proceedings.
Texte complet
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