Guam Sample Letter for Motion for Additur or New Trial and Prejudgment Interest
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How to fill out Sample Letter For Motion For Additur Or New Trial And Prejudgment Interest?
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FAQ
Prejudgment interest is the amount of interest the law provides to a plaintiff to compensate for the loss of the ability to use the funds. If prejudgment interest is awarded, it is computed from the date on which each loss was incurred until the date on which you sign your verdict.
The interest that a creditor, usually a plaintiff in the case, is entitled to collect, derived from the amount of a judgment, which compensates the creditor for an injury which occurred before the judgment.
Ing to the New York Civil Practice Law and Rules (CPLR), the interest rate on a pre- or post-judgment is 9% per annum (year). But under a new law, starting April 30, 2022, this 9% interest rate will drop to 2% if the judgment debtor (defendant) is an individual who owes a consumer debt.
In essence, the decided prejudgment cases focus very much on predetermination of factual issues, whether directly or via prejudgment of the credibility of witnesses to those facts. None of these cases would appear to involve a scenario where the impugned judicial remarks focused upon questions of legal doctrine.
Prejudgment interest is computed as simple interest with a rate equal to the postjudgment interest rate applicable at the time judgment is rendered. The applicable interest rate is published weekly by the Texas Office of Consumer Credit Commissioner.
