---
title: O.C.G.A. § 7-4-15. When interest runs on liquidated demands; promissory notes payable on demand.
collection: code
id: 7-4-15
cite_as: O.C.G.A. § 7-4-15 (2025)
canonical_url: https://georgiacommons.org/code/7-4-15
md_url: https://georgiacommons.org/code/7-4-15.md
text_url: https://georgiacommons.org/code/7-4-15/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=749
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / INTEREST AND USURY / IN GENERAL
---

# O.C.G.A. § 7-4-15. When interest runs on liquidated demands; promissory notes payable on demand.

All liquidated demands, where by agreement or otherwise the sum to be paid is fixed or certain, bear interest from the time the party shall become liable and bound to pay them; if payable on demand, they shall bear interest from the time of the demand. In case of promissory notes payable on demand, the law presumes a demand instantly and gives interest from date.

## History

Laws 1799, Cobb’s 1851 Digest, p. 405.; Ga. L. 1858, p. 90, § 1; Code 1863, § 2029; Code 1868, § 2030; Code 1873, § 2056; Code 1882, § 2056; Civil Code 1895, § 2884; Civil Code 1910, § 3434; Code 1933, § 57-110.

## Law Reviews

For note discussing usury law application to interest charged on liquidated demands and promissory notes payable on demand, see 12 Ga. L. Rev. 814 (1978).

For article, “2015 Georgia Corporation and Business Organization Case Law Developments,” see 21 Ga. St. Bar. J. 30 (Apr. 2016).