46 U.S.C. § 31107 — Interest
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 32 words · no verdicts yet
In a civil lawsuit under this chapter, a court judgment usually cannot include interest for time before the judgment. There is one exception: if the claim is based on a contract that provides for interest. Then interest can be included.
This rule limits interest in lawsuits under this chapter. Normally, if a court awards money in a judgment, that judgment cannot include interest for the period before the judgment was issued. There is one exception: if the underlying claim is based on a contract, and that contract itself provides for interest, then pre-judgment interest can be included. Outside of that exception, no pre-judgment interest is allowed.
A judgment in a civil action under this chapter may not include interest for the period before the judgment is issued unless the claim is based on a contract providing for interest.
Source credit: (Pub. L. 109–304, § 6(c), Oct. 6, 2006, 120 Stat. 1522.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1522
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-304 on 2006-10-06.
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