Chapter 8 Flashcards
1
Q
What is statutory interest?
A
The interest rate that is set out in a particular piece of legislation.
2
Q
Which acts does the courts power to award interest arise from?
A
- S35A of senior courts act 1981 for High court claims.
- S69 of county courts act 1984 for county court claims.
3
Q
What are the general types of damages for personal injury claims?
A
- pain and suffering and lost of amenity
- loss of future earnings
- loss of earning capacity
- loss of employment
- future expenses
- provisional damages
4
Q
What are the special damages for personal injury?
A
- loss of earnings to trial
- other losses and expenses
- medical treatment
5
Q
What are the interest rates for special damages and general damages?
A
Special - half the courts special rate which is currently 0.1%. So it would be 0.05% per annum.
General - 2% per annum.
6
Q
When can a claimant claim for interest in a breach of contract?
A
If there is a specific contract clause providing for this or if the late payment of commercial debt interests act 1998 applies.
The rate is 8% above the base rate.
