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Sample Letter for Motion for Additur or New Trial and Prejudgment...

Philadelphia Pennsylvania Sample Letter for Motion for Additur or New Trial and Prejudgment Interest

Name: Philadelphia Pennsylvania Sample Letter for Motion for Additur or New Trial and Prejudgment Interest
Brand: US Legal Forms
Rating: 4.64 (223 reviews)

Category:

Letters - Legal - Motions

State:

Multi-State

County:

Philadelphia

Control #:

US-0374LTR

Format:

Instant download

Description

This form is a sample letter in Word format covering the subject matter of the title of the form.

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How to fill out Philadelphia Pennsylvania Sample Letter For Motion For Additur Or New Trial And Prejudgment Interest?

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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.

"Prejudgment interest serves two purposes: first, it compensates the plaintiff for the loss of the use of his or her money; and, second, it forces the defendant to relinquish any benefit that it has received by retaining the plaintiff's money in the interim." Brandywine Smyrna, Inc. v.

To calculate the amount of interest owed multiply the number of days for each period (step 5) by the daily amount of interest (step 4), and then add these different amounts. This will give you the total amount of interest owed to you. This is the amount that you write next to 'Interest' in the statement of claim form.

Although interest in commercial settings is always compounded, courts sometimes award prejudgment interest using simple interest, which is the traditional common law rule. Courts should, however, award compound prejudgment interest.

The Model Prejudgment and Post-judgment Interest Act provides for the reform of statutory interest rates for both prejudgment and post-judgment interest. The Act also provides a six month exception to prejudgment interest and a provision encouraging offers of settlement.

Prejudgment interest is essentially additional money that a court can award based on the interest that the judgment would have earned over the period of time from when the claimant was entitled to receive those monies.

To calculate your own pre-judgment interest, count the number of days between the 180th day after you notified your defendant of a pending lawsuit or the date you filed the lawsuit, and multiply the number of days by the appropriate rate.

Interest is allowed on most judgments entered in the federal courts from the date of judgment until paid.

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Limitations for motion briefs filed in the Civil Part of the Law Division. My firm has recently been involved in a case in which the trial court was required to rule on a motion to transfer.In the state, but rather indicative of the number of issues plaguing other jurisdictions. The Philadelphia Court. Authority of Supreme Court to require new bond, see § 11-3-33 .

Philadelphia Pennsylvania Sample Letter for Motion for Additur or New Trial and Prejudgment Interest

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How to fill out Philadelphia Pennsylvania Sample Letter For Motion For Additur Or New Trial And Prejudgment Interest?

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FAQ

What is pre Judgement interest?

What is the purpose of prejudgment interest?

How do you calculate interest on a statement of claim?

Is prejudgment interest simple or compound?

What is prejudgment and postjudgment interest?

What is pre adjudication interest?

How do I calculate prejudgment interest?

Can I be charged interest on a Judgement?

What does prejudgment interest mean?

Interesting Questions

What is a motion for additur or new trial?

What is prejudgment interest?

Why would someone file a motion for additur or new trial?

How long do I have to file a motion for additur or new trial in Philadelphia?

What are the possible outcomes of a motion for additur?

What are the grounds for filing a motion for new trial in Philadelphia?

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