Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 4. INTEREST AND USURY · Article 1. IN GENERAL

7-4-14. Interest runs from default unless otherwise agreed; when demand necessary.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

In the absence of an agreement to the contrary, interest shall not run until default; hence, where money can be recovered because of mistake or other like reasons, no interest shall run until after demand and refusal to refund.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Civil Code 1895, § 2881; Civil Code 1910, § 3431; Code 1933, § 57-107.

For survey article on trial practice and procedure, see 60 Mercer L. Rev. 397 (2008).

History of Code section.: This Code section is derived from the decision in Georgia R.R. & Banking Co. v. Smith, 83 Ga. 626, 10 S.E. 235 (1889).

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, page 747; merge action: carried; file SHA-256 5c69f28428d8.