Legal Question in Civil Litigation in Oregon
Correcting Foreign/ Domesticated judgment in Oregon to reflect the correct interest rate to apply as post judgment interest
I won a money judgment by default on a case in California. The issue was nonpayment of Promissory Note and the interest on the Note was 6%. Defendant now in Oregon I filed a foreign judgment there where the clerk insisted that the applicable rate for Post judgment interest that can be applied is based upon what was awarded in the California judgment. I feel this is incorrect and that the applicable rate to apply as post judgment interest should be either the allowable post judgment rate in Oregon of 9% or the California rate of 10%.
The clerk cited �OR � 24.140� Interest and costs When a registered foreign judgment becomes a final judgment of this state, the court shall include as part of the judgment interest payable on the foreign judgment under the law of the state in which it was rendered, and the cost of obtaining the authenticated copy of the original judgment. The court shall include as part of its judgment court costs incidental to the proceeding in accordance with the law of this state and the costs of recording documents as permitted by statute. [1955 c.647 �14; 1987 c.586 �16]�
Who is right here myself or the clerk?
If I am right, should I file an amended complaint or a corrected judgment?
Alan
1 Answer from Attorneys
You are correct. Under California Civil Code � 3289(a) "Any legal rate of interest stipulated by a contract remains chargeable after a breach thereof...until the contract is superseded by a verdict or other new obligation." However, "[i]f a contract does not stipulate a legal rate of interest, the obligation shall bear interest at a rate of 10 percent per annum after breach." California Civil Code � 3289(b). For you, the contract was superseded by your judgment against the other party. Since judgment, interest is 10%.