Georgia § 7-4-15 - When interest runs on liquidated demands; promissory notes payable on demand.
Full text of Georgia Official Code of Georgia Annotated § 7-4-15 — When interest runs on liquidated demands; promissory notes payable on demand., with citation guidance and answers to common questions.
§ 7-4-15. When interest runs on liquidated demands; promissory notes payable on demand.
All liquidated demands, where by agreement or otherwise the sum to be paid is fixed or certain, bear interest from the time the party shall become liable and bound to pay them; if payable on demand, they shall bear interest from the time of the demand. In case of promissory notes payable on demand, the law presumes a demand instantly and gives interest from date. (Laws 1799, Cobb's 1851 Digest, p. 405; Ga. L. 1858, p. 90, § 1; Code 1863, § 2029; Code 1868, § 2030; Code 1873, § 2056; Code 1882, § 2056; Civil Code 1895, § 2884; Civil Code 1910, § 3434; Code 1933, § 57-110.) Law reviews. - For article, "2015 Georgia Corporation and Business Organization Case Law Developments," see 21 Ga. St. Bar. J. 30 (Apr. 2016). For note discussing usury law application to interest charged on liquidated demands and promissory notes payable on demand, see 12 Ga. L. Rev. 814 (1978).
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 7-4-15
What does Official Code of Georgia Annotated § 7-4-15 cover?
Section 7-4-15 ("When interest runs on liquidated demands; promissory notes payable on demand.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 7-4-15?
A common citation format is "Official Code of Georgia Annotated § 7-4-15" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 7-4-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.