Legislator Case Law & Legislation
KKO 3237/1998 AI generated

Supreme Court allows interest on debt note converted to pledge due to conversion delay.

Case Number KKO 3237/1998
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted

Legislator summary

AI generated

The Supreme Court ruled that interest must be calculated on a debt note when it is converted into a pledge document. The plaintiff argued that the delay in conversion caused financial loss, while the defendant contended the conversion process itself extinguished the original debt terms. The court held that the conversion delay constitutes a breach of the agreement, necessitating interest compensation for the period of inactivity.

Legislator headnote

AI generated

Section 10 of the Act on Pledges; Section 10 of the Act on Negotiable Instruments: When a debt note is converted into a pledge document due to a delay, the creditor is entitled to interest for the period of delay.

Keywords

AI generated
debt note conversion pledge document interest calculation conversion delay negotiable instruments creditor rights financial compensation

Cited Legislation

AI generated
Section 10 of the Act on Pledges
Section 10 of the Act on Negotiable Instruments
AI generated

Need to analyze how this precedent applies to your matter?

Cross-reference this judgment against statutes, commentaries, and subsequent citing case law inside Legislator AI.

Open in Legislator →

Full text

Kysymys siitä, onko viivästyskorko otettava huomioon kiinnitettyä tavallista velkakirjaa panttikirjaksi vaihdettaessa.