Legal Question in Real Estate Law in Florida

Request for definition or explanation

We have received a judgment in our favor in small claims court. The final judgment says that we are to receive'the principal sum of $400, that shall bear interest at the rate of 7% per annum, for which sum let execution issue'.

We have been unable to secure an explanation of this phrase.

Does this mean that we will get 7% on top of the award?

Thanks for your help.

Nora


Asked on 4/26/04, 1:17 pm

1 Answer from Attorneys
Randall Gilbert Gilbert & Caddy P.A.

Re: Request for definition or explanation

In otherwords you get $0.07 cents every day that the judgment is not paid ($400.00 x 7% divided by 365). Congratulations on your winfall.

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Answered on 4/26/04, 1:20 pm


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