Statement of Interest in Contracts Generally
AbstractThis article limits itself to expression and recoverability of interest on contracts and commercial paper generally. Its aim is to focus on a handful of basic problems en countered in practice from time to time. It will outline the viable opportunities for defence against creditor's claims as well as suggest methods to avoid the pitfalls. The paper does not address the subject of interest in mortgages per se, or the subject of in terest as damages. Those are both matters broad enough for separate treatment. What is sought in this article is to wrap up some principles of broad application and to flag some areas in legal practice that appear particularity fruitful either for defence to claims or for improvement of prevailing practices amongst lawyers.
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