Statutory Interest Rate Supersedes Prior Contractual Agreement
Synthèse Legislator
Généré par l'IAThe court addressed a dispute concerning the proper calculation of a statutory interest rate to be applied to an award, where the governing statute specified one method but an earlier agreement suggested a different rate. The court reasoned that the statute, which represented the legislature's most recent expression of public policy regarding interest calculation, superseded the prior contractual agreement; therefore, the statutory method, which resulted in a lower effective interest rate, was the controlling provision.
Regeste Legislator
Généré par l'IAArt. 66 al. 1 LTF; Statutory Interest Rate Supersedes Prior Contractual Agreement: The court reasoned that the statute, which represented the legislature's most recent expression of public policy regarding interest calculation, superseded the prior contractual agreement; therefore, the statutory method, which resulted in a lower effective interest rate, was the controlling provision.
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'IAThe court ordered the appellant to pay the costs of the proceedings.
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