The Law: Definition and decisive features - Forms of enforcement - Moratory vs Compensatory interest
3 important questions on The Law: Definition and decisive features - Forms of enforcement - Moratory vs Compensatory interest
Compensatory interest vs. moratory interest: difference?
Moratory interest: interest calculated on an amount that is determined and clear in a contract
Compensatory interest: interest that is due on an amount of money when the parties don't agree about the amount of money
Compensatory interest: interest that is due on an amount of money when the parties don't agree about the amount of money
When is moratory interest added?
In case of late payment, on monetary debts (statutory rate, lump sum)
When is compensatory interest added?
On non-monetary debts (amount decided by court, need proof)
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