Tennessee § 47-14-123 - Prejudgment interest.
Full text of Tennessee Tennessee Code Annotated § 47-14-123 — Prejudgment interest., with citation guidance and answers to common questions.
§ 47-14-123. Prejudgment interest.
Prejudgment interest, i.e., interest as an element of, or in the nature of, damages, as permitted by the statutory and common laws of the state as of April 1, 1979, may be awarded by courts or juries in accordance with the principles of equity at any rate not in excess of a maximum effective rate of ten percent (10%) per annum; provided, that with respect to contracts subject to § 47-14-103 , the maximum effective rates of prejudgment interest so awarded shall be the same as set by that section for the particular category of transaction involved. In addition, contracts may expressly provide for the imposition of the same or a different rate of interest to be paid after breach or default within the limits set by § 47-14-103 . Acts 1979, ch. 203, § 22. Textbooks. Gibson's Suits in Chancery (7th ed., Inman), § 226. Law Reviews. Prejudgment Interest in Tennessee: It's a Fine Mess We're in! Proposed Statutory Solutions to the Inequitable Application of an Equitable Remedy, 34 U. Mem. L. Rev. 789 (2004).
Frequently Asked Questions About Tennessee § 47-14-123
What does Tennessee Code Annotated § 47-14-123 cover?
Section 47-14-123 ("Prejudgment interest.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 47-14-123?
A common citation format is "Tennessee Code Annotated § 47-14-123" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-14-123 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.