Legal Question in Construction Law in New York

pre-judgment interest

In a mechanic's lein action, is a plaintiff/supplier entitled to pre-judgment interest on an alleged sum due it from a defendant/sub-contractor where the contract( in this case, a purchase order)executed between the parties made no mention of such interest? If the answer is ''yes'' at what rate would that interest be charged?


Asked on 10/12/01, 12:47 am

1 Answer from Attorneys

Steven Rubertone Law Offices of Steven Rubertone

Re: pre-judgment interest

In most mechanic lien actions, prejudgment interest is rewardable. If the parties have agree on a rate, then that rate would be applied. If there is no agreement on the rate then the statutory prevailing rate will be used. I would recommend that you speak with an attorney to determine the prevailing rate and whether or not the rate would be applicable to your specific situation.

Read more
Answered on 11/23/01, 11:49 am


Related Questions & Answers

More Construction Law questions and answers in New York