moratory interest

moratory interest
Interest allowed in an action for breach of contract or tort for the unlawful detention of money found to be due. 22 Am J2d Damg § 179.

Ballentine's law dictionary. . 1998.

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  • Interest —     Interest     † Catholic Encyclopedia ► Interest     Notion of interest     Interest is a value exacted or promised over and above the restitution of a borrowed capital.     ♦ Moratory interest, that is interest due as an indemnity or a… …   Catholic encyclopedia

  • moratory — mor·a·to·ry / mȯr ə ˌtȯr ē/ adj [French moratoire, from Late Latin moratorius]: of, relating to, or resulting from delay in the payment or performance of an obligation moratory interest Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • moratory — ˈ ̷ ̷ ̷ ̷ˌtōrē, tȯr , ri adjective Etymology: French moratoire, from Late Latin moratorius dilatory, retarding, from Latin moratus (past participle of morari to delay, remain, from mora delay) + orius ory more at memory : of, relating to, or… …   Useful english dictionary

  • interest annually — See annual interest; at interest; compound interest; conventional interest; customary interest; discount; discretionary interest; Jewish interest; legal interest; legal rate of interest; marine interest; …   Ballentine's law dictionary

  • moratory — adjective Pertaining to delay of payment or fulfilment of an obligation, as in moratory interest …   Wiktionary

  • interest by way of damages — Sometimes called moratory interest,–interest allowed in actions for breach of contract or tort as damages for the unlawful detention of the money found to be due, not by way of contract or arbitrary rule, but by way of reparation as justice… …   Ballentine's law dictionary

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