prejudgment / postjudgment interest UNTIL PAID

Discussion in 'Legal Terminology' started by apoziopeza, Feb 11, 2013.

  1. apoziopeza Senior Member

    slovak
    Hi,

    I am translating a petition, and in the part relating to prayer for relief, quite many things are unclear to me here, but now I would like to know to what UNTIL PAID refers to.
    I would appreciate it if you could help me with this

    Thanks,

    A.

    EXTRACT FROM THE PETITION -

    Prayer for relief

    WHEREFORE, the plaintiff prays that the Defendants be cited to appear and answer herein and that upon final trial of this cause, the plaintiff does have and recover of and from the defendants the following relief:

    1. Compensatory damages
    2. Mental anguish
    3. Punitive and exemplary damages
    4. Trebled damages
    5. Additional damages
    6. Forfeiture of all attorney’s fees paid to Defendant [I guess it is fees for legal representation?]
    7. Reasonable and necessary attorney’s fees [I guess it is disbursements, like translations, taxi?]
    8. Costs of court [I guess it is costs incurred in connection with the filing of this action?]
    9. Prejudgment interest, and post judgment interest on the entire judgment amount until paid, and
    10. All such other and further relief


    Web:
    Prejudgment interest - "Interest accruing on the amount of a legal award from the time of the injury or damage to the time the judgment is entered by the court"

    MY UNDERSTANDING

    1. Prejudgment interest [from occurrence of injury until the judgment is entered into], and post judgment interest [from the judgment is entered into until WHEN?] on the entire judgment amount until [which of these? is] paid, and
     
  2. DAH

    DAH Senior Member

    Los Angeles
    USA/California--English
    until the amount is paid in full--think of this in terms of how credit card interest works.
     
  3. RicardoElAbogado Senior Member

    SF Bay Area, California
    American English
    Let's say that the injury occurs on July 1, 2010 and judgment is entered February 1, 2013. Let's also say that the dollar amount of the damages is $70,000, and that the interest from July 1, 2010 through February 1, 2013 is $5,000. The $5,000 is the prejudgment interest. The judgment is for $75,000, of which $5,000 is prejudgment interest and $70,000 is the damages.

    Now from February 2, 2013 until the judgment is paid, the full amount of the judgment ($75,000) will bear interest. The interest that accrues after February 1, 2013 is post-judgment interest. The judgment will keep bearing interest until it is paid. Thus, the defendant will have to pay $75,000 (which includes pre-judgment interest) plus interest on the $75,000. The obligation to pay post-judgment interest continues until he pays off the entire amount of the judgment plus the post-judgment interest to the date of payment.
     
  4. apoziopeza Senior Member

    slovak
    RicardoElAbogado, thank you for your excellent response and a perfect example, I have thought it would be this!
     

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