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Questions and Answers
What is the current interest rate prescribed by the Prescribed Rate on Interest Act for unliquidated claims?
What is the current interest rate prescribed by the Prescribed Rate on Interest Act for unliquidated claims?
Interest on claims may exceed the capital amount according to the 'in duplum' rule.
Interest on claims may exceed the capital amount according to the 'in duplum' rule.
False
What is one of the components of a civil judgment?
What is one of the components of a civil judgment?
When does interest run for a claim as per Section 2A of the Act?
When does interest run for a claim as per Section 2A of the Act?
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A judgment for absolution can only be granted to the defendant.
A judgment for absolution can only be granted to the defendant.
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In a legal context, the term 'mora ex re' refers to the date ________ for performance.
In a legal context, the term 'mora ex re' refers to the date ________ for performance.
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Match the cost types with their descriptions:
Match the cost types with their descriptions:
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What must a defendant demonstrate for the court to favor a judgment in his/her favor?
What must a defendant demonstrate for the court to favor a judgment in his/her favor?
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Rescission of judgment can occur when there is a 'reasonable explanation for ______'.
Rescission of judgment can occur when there is a 'reasonable explanation for ______'.
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Match the following terms with their definitions:
Match the following terms with their definitions:
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Study Notes
Interest on Unliquidated Claims
- Interest runs from the date when a claim becomes liquid.
- This happens when the court decides on the merits of the case.
Interest
- Section 2A of the Act determines interest runs from the date of service of the summons.
- The earliest date of service or the date the debt becomes due
- Interest may never exceed the capital amount.
Legal Costs
- Various rules apply to costs
- The winner gets costs, but sometimes the behaviour of the conduct may affect who gets costs.
- Read the prescribed sections.
Costs of the Cause
- Interim cost orders may be granted but not executed immediately in MCs.
- In HC, interim cost orders can be executed immediately.
- Costs of the cause - interlocutory matters - no order of costs, each party pays their own costs.
- Costs to be reserved - interlocutory matters.
- Must be able to describe these costs order and apply correctly.
Types of Costs
- Party & Party
- Attorney & Client
- Attorney & own client
- De bonis propris
- After judgement - bill of costs to taxation.
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Description
Test your knowledge on legal costs and the calculation of interest on unliquidated claims. This quiz covers key concepts including when interest begins to run, types of legal costs, and applicable court rules regarding costs. Ensure you're well-versed in the nuances of legal fees and interest regulations.
