Florida/Georgia Personal Injury & Workers Compensation

...ges. Furthermore, just as the loss theory forecloses discretion in the award of prejudgment interest, there is no discretion in the rate of that interest. The legislature has established a statutory interest rate which controls prejudgment interest. § 687.01, Fla....

...have been paid), the person or the party which should have paid it should be compelled to pay, as damages for its detention, lawful interest thereon from the date it should have been paid, and the amount *876 thereof is to be determined by applying Section 687.01, F.S....

...779, 236 N.E.2d 523 (1968); In re Opinion of the Justices, 99 N.H. 536, 114 A.2d 801 (1955). *310 Fla. Stat. § 243.27(3), F.S.A., provides that the revenue bonds shall bear interest "at such rate or rates not exceeding the legal rate per annum." Defendant cites Fla. Stat. § 687.01, F.S.A., which sets the legal rate of interest at six per cent per annum and says that the revenue bonds in the case sub judice are illegal in that they may be issued at the rate of seven and one-half per cent per annum....

...ngfully withheld * * * the person or the party which should have paid it should be compelled to pay, as damages for its detention, lawful interest thereon from the date it should have been paid, and the amount thereof is to be determined by applying Section 687.01, F.S....

...On October 20, 1986, the trial court granted summary judgment in favor of the Authority. Better Plastics appealed, and the Fifth District Court of Appeal reversed and remanded, finding that a regulated public utility has the legal obligation to pay prejudgment interest on overcharge refunds under section 687.01, Florida Statutes (1986), and Argonaut Insurance Company v....

...Our decision in Argonaut is controlling regardless of the Authority's status as a "regulated public utility." [3] At oral argument the Public Service Commission stated that utility customers are routinely granted interest on overcharge refunds, but the issue is not commonly raised because it is settled before litigation. [4] Section 687.01, Florida Statutes contains the statutory interest rate set by the legislature that controls prejudgement interest....

...due. See Sullivan, 37 Fla. at 143, 19 So. 340; Peter Marich & Associates, Inc., 365 So.2d at 756. Moreover, as U.S. Home points out, the trial court erred in assessing interest at twelve percent per annum from July 1, 1979, through July 1, 1982. See § 687.01, Fla....

...The court should also reduce the award to Suncoast to $44,000 on the Oldsmar dirt haul and revise its judgment to show the date upon which that sum was due. Prejudgment interest should be awarded at a rate of six percent prior to July 1, 1982, pursuant to section 687.01, Florida Statutes (1981). After that date, interest should be awarded at a twelve percent rate up to the date of the revised judgment. See § 687.01, Fla....

...rest. If the statute were so limited, Florida Rule of Appellate Procedure 9.340(c), which provides for the running of the interest from the date of the verdict rather than the judgment, would be impermissibly in conflict with that statute. Moreover, section 687.01, Florida Statutes (1998), establishes the statutory rate for all other interest awarded, including prejudgment interest, to be the same rule as for postjudgment interest....

...rected to the sheriffs of the state to be dealt with as execution shall bear, on the face of the process, writ, judgment, or decree, the rate of interest which it shall accrue from date of judgment until payment. § 55.03(2), Fla. Stat. (1981). [10] Section 687.01 provides: "In all cases where interest shall accrue without a special contract for the rate thereof, the rate is the rate provided for in s....

...sessed from the date of judgment against JEWELERS MUTUAL, when the assignees became entitled to the principal amount. Klein v. Newburger, Loeb & Co., 151 So.2d 879 (Fla. 3d DCA 1963). Interest is computed at the statutory rate of 12% under Fla.Stat. Section 687.01....

...Interest should also have been awarded, payable from the date claimant should have received benefits. Parker v. Brinson Construction Co., 78 So.2d 873 (Fla. 1955). As to the applicable rate of interest, the statutory provision in effect at the time of claimant's accident established a rate of 6%. § 687.01, Florida Statutes (1974); and former Rule 21, W.C.R.P....

...In accordance with the foregoing findings and conclusions of law, the Court will grant relief to the parties as follows: The Court will render judgment in favor of the Chapter 7 trustee and against the Claimant for the sum of $84,018.90 plus interest from May 1, 1988, through June 15, 1990. Pursuant to FLA.STAT. § 687.01 interest is calculated at the rate of 12% per annum in the amount of $21,405.50....

...Paragraph 8 of the contract is concerned only with sums due for services that have been provided and is thus not applicable to sums due under the liquidated damages clause. For the interest rate on that portion of the damages award we must look to section 687.01, Florida Statutes (1979), which provides: "In all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 6 percent per annum, but parties may contract for a lesser or greater rate by contra...

...In fact, the open record *784 on the books of his company and his tax return immediately revealed what he was doing. Defendant's motion to dismiss count II is granted and this count is dismissed with prejudice. Plaintiff also seeks interest on the $250,000 from the date of transfer at the rate of 12% under § 687.01, Florida Statutes....

...date the money was due until the date of the judgment. Id. (“[T]he loss itself is a wrongful deprivation by the defendant of the plaintiffs property.”). Under Florida law, the rate of both prejudgment and postjudgment interest is set by statute. § 687.01, Fla. Stat. (1994); § 55.03, Fla. Stat. (2003). Section 687.01 refers to section 55.03, Florida Statutes (2003), for the rate to be used for prejudgment interest where no contractual interest rate applies....

...Stat., F.S.A., to wit: 6% per year." Section 55.03 provides for an award of 6 percent interest on a judgment or decree, but it would not appear to support an award of interest on a tax judgment as of the date of the tax delinquency. More nearly applicable here would be § 687.01, Florida Statutes, F.S.A....

...". Cf. Parker v. Brinson Construction Company, Fla. 1955, 78 So.2d 873, a workman's compensation case in which interest on an award was allowed, as damages for its detention, from the date at which it should have been paid, at the rate prescribed by § 687.01, supra....

...The Court deems it appropriate, then, to award to intervenors pre-judgment interest from the date of their actual loss, Lloyds U.S. Corp. v. Smallwood, 719 F.Supp. 1540 (M.D.Fla.1989), i.e., from the date of the reported theft, February 10, 1983. J. "SIMPLE" VS. "COMPOUND" INTEREST ... HOW TO CONSTRUE § 687.01, FLA....

...The figures contained in the respective intervenors' proposed final judgments, as submitted, assumed that the Court would award pre-judgment interest compounded annually. Here Defendants assert in opposition that while the statutory rate of interest in Florida is applicable at 12% per year, Fla.Stat. § 687.01, there is outstanding the question of whether said interest is to be calculated as simple interest per year or whether it should be calculated to compound annually. The Florida Statute provides, in its entirety: 687.01....

...Rate of interest in absence of contract In all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 12 percent per annum, but parties may contract for a lessor or greater rate by contract in writing. Fla.Stat. § 687.01 (1989)....

...e interest should not be compounded. See Defendant, Lloyds' Memorandum in Opposition to Entry of Final Judgments, file dated November 15, 1990, at 14-19. Intervenors disagree. Intervenors essentially argue that since the pertinent statute, Fla.Stat. § 687.01, mentions interest at a rate of "12 percent per annum," and since later sections, including § 687.03(1) mentions "18 percent per annum simple interest," (emphasis added), then the Legislature must have intended that the former statute prov...

...One might just as easily argue, contrary to the view held by intervenors, that all of Chapter 687 should be read in pari materia, and that absent clear evidence to the contrary, the whole section should be read in terms pertaining to simple interest. In fact, this interpretation seems more likely: Since § 687.01 has remained essentially unchanged for a number of years — yet § 687.03(1) was last revised in 1979 — the latter can be said to clarify the language of the former....

...If the legislature had intended to alter the earlier statute, it is likely that it would have stated so in a more direct fashion. The Court will proceed to effectuate what it perceives to be the intent of the Florida Legislature, and award simple interest at the statutory rate of 12% per annum, in accordance with Fla.Stat. § 687.01 — that is, the principal plus 12% thereof, per annum simple interest, commencing from the date on which plaintiff corporations became liable to the intervenors for the gold consigned to it, extending for each of the years since the obligation has been forthcoming....

...[3] We note that for purposes of calculating the prejudgment interest any portion of the judgment which represents future progress payments earns interest only from the date of judgment. Also, the trial judge should be conscious of the amendment to section 687.01, Florida Statutes (1981), which was effective July 1, 1982, and which changed the statutory rate of interest from six per cent to twelve per cent.

...2d DCA 1993). The lender argued that the disclaimer clause was credible evidence of lack of corrupt intent. The second district also questioned, but did not decide, whether a disclaimer clause can ever save the lender from criminal usury pursuant to section 687.01, because the "savings" provisions of Florida's usury laws, section 687.04(2), apply only to civil usury....

...Here appellant's action is in the nature of a contract *662 action since he is seeking back pay pursuant to his contract of employment with the School Board. If otherwise applicable to actions against governmental agencies, the rate is six percent per annum. § 687.01, Fla....

...The interest on $27,136 at nine percent per annum for fifty-four months is $10,990.08. [3] Of course, there was no agreement between the parties addressing the issue of the rate of interest to be paid on any award of retroactive alimony. Therefore, pursuant to section 687.01, Florida Statutes (2002), the applicable rate of interest is the rate provided in section 55.03, Florida Statutes (2002)....

...es as escrow agents, and for that reason have waived any claims to the settlement proceeds. Interest Under Matter of Innkeepers of New Castle, Inc., supra, 671 F.2d at 231, Goodhart and the assignees are entitled to interest upon their claims. Under section 687.01, Florida Statutes, the applicable rate is twelve percent....

...on a contractual relationship. Therefore, pre-judgment interest is recoverable under Florida law. The applicable pre-judgment interest rate is 6% per annum through June 30, 1982, and 12% per annum from July 1, 1982 to the date of judgment Fla.Stat. § 687.01; see Erskine Florida Properties, Inc....

...See also Meigs & Cope Agency of Florida, Inc. v. Koffey, 435 So.2d 867 (Fla. 3d DCA 1983). Payment was due on January 25, 1981, the date from which interest is to be computed. [1] A second issue is whether interest is to be based on contract or statute. Section 687.01, Florida Statutes (1981), the controlling statute in effect at the time the parties contracted, provided that: In all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 6 percent per an...

...n which payment was due. See, e.g., Air Prods. and Chems., 867 F.2d at 1381. OTP's final demand for payment was made on February 27, 1996 and the court finds that OTP's loss occurred thirty days later when MPI failed to make payment. Under Fla.Stat. § 687.01 (1996), the prejudgment interest rate in effect on that date was 10% per annum....

...1979); Parker's Mechanical Contractors, Inc. v. East Point Water & Sewer District, 367 So.2d 665 (Fla. 1st DCA), cert. denied, 378 So.2d 347 (Fla. 1979). If assessed, a rate of six percent is statutorily mandated. Chelsea Title & Guaranty Co. v. Turner, 389 So.2d 691 (Fla. 4th DCA 1980); § 687.01, Fla....

...Buildex, Inc., 476 So.2d 294 (Fla. 3d DCA 1985), hold that the preprinted interest rate contained in the six invoices, without more, was insufficient for AmeriQuest to be awarded any more prejudgment interest than is permitted by statute. First of all, section 687.01, Florida Statutes (1995), the controlling interest statute in effect at the time of the issuance of the invoices, provided that: In all cases where interest shall accrue without a special contract for the rate thereof, the rate is the rate provided for in s....

...We held that absent proof of a written agreement between the parties for the higher rate of interest, interest accrues at the statutory rate. Id. at 296; see also Wilkinson & Jenkins Contr. Co., Inc. v. Florida Rock Indus., Inc., 475 So.2d 743 (Fla. 2d DCA 1985). We think that our Celotex holding is in harmony with section 687.01's which requires a "special contract" to deviate from the statutory interest rate....

...§ 1961); Matter of Foreman Indus., Inc., supra, 59 B.R. at 156 (federal post-judgment rate under § 1961 on a "fluctuating" basis); Tavormina v. Merchants Bank (In re Gillett), 55 B.R. 675, 680 (Bankr.S.D.Fla.1985) (12% legal rate under Fla. Stat. § 687.01); Moxness Products, Inc....

...oss. We see no error in the district court's decision on these points. Respondents urge that the trial court erred in instructing the jury that a twelve percent prejudgment interest rate would be applied. We agree with respondents, at least in part. Section 687.01, Florida Statutes (1979), which was effective at the time of loss, prescribed an interest rate of six percent. Chapter 82-42, Laws of Florida, effective July 1, 1982, amended section 687.01 by prescribing that thereafter the interest rate would be twelve percent....

...Accordingly, the Trustee is entitled to receive from the Bank prejudgment interest from January 16, 1985, on the $6,606.12 improperly setoff by the Bank. Section 1961 of Title 28, U.S.C. does not specify a rate for prejudgment interest and therefore, this Court will apply the rate set forth in Florida Statutes, Section 687.01....

...Plaintiffs are now also seeking $4,598,843 interest on their judgment. The interest is calculated through February 16, 1988 from March 22, 1982 (the date funds were wrongfully transferred from the plaintiff bank) at the rate of 12% (the Florida statutory rate, Fla.Stat. § 687.01)....

...NOTES [1] Because the Court is dealing with a transfer to an insider made between ninety days and one year prior to the petition date, the plaintiff is not entitled to rely upon the ninety-day presumption of insolvency set forth in § 547(f). [2] Pursuant to § 687.01, Florida Statutes, Aero was entitled to interest on its claim at the rate of 12% per annum.

...laim was contested. We agree with appellant's contentions and remand the case for the calculation and award of interest on the amount of the unpaid bills from the date or dates the employer/carrier should have paid them, at the statutory legal rate. Section 687.01, Florida Statutes (1979)....

the absence of special contract therefor, (Section 687.01 Florida Statutes 1941) is $500,273.99. *Page

...Further, it cannot be seriously contended that American's counterclaim is not based upon an express, written contract. The fact that the contract has no express provision concerning interest is of no consequence since such a provision will be implied by law. § 687.01, Fla....

...e record that the court intended this date to be June 16, 1981, the date Dade demanded reimbursement under the policy from American. [4] The statute provides that where a contract is silent as to interest, "the rate shall be six per cent per annum." § 687.01, Fla....

...at was the interest rate? (3) Did the fact that the Bank calculated the interest for a period of time using a 360 day factor applied to 365 days constitute usury when the interest rate during those periods of time was 10%? (4) Do the provisions of F.S. 687.01 — "In all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 6% per annum, but parties may contract for a lesser or greater rate by contract in writing" preclude submission to the jury of i...

...ateral was *468 not in good faith and the trial judge directed a verdict in favor of Davis as to the second and fourth issues thereby determining that there was no agreement between Davis and the Bank as to the interest rate to be charged and that F.S. 687.01 required as a matter of law that the interest accrue at the rate of 6 per cent per annum....

...through the date of trial. Although, because of our treatment of appellant's second point which will be hereafter discussed, it is not necessary that we address its first point, we nevertheless note that we agree with the learned trial judge that F.S. 687.01 fixes the interest rate on the subject note at 6 per cent per annum since the evidence is clear that the parties did not contract for a lesser or greater rate....

...Lonray is entitled to prejudgment interest on $12,342.78 from February 27, 1981, to July 1, 1982, at the rate of 6% per annum. Lonray is entitled to prejudgment interest on the total amount of damages from July 1, 1982, to the date of judgment at the rate of 12% per annum. Fla.Stat. § 687.01 (1982); Parker *195 v....

...The Court also holds that University Creek is entitled to prejudgment interest in the amount of $92,219.40, calculated at the rate of twelve percent per annum from May 6, 1986, the day after it paid the Shubows, until the date of this order, June *1138 19, 1991. See Farrell v. Ashmore, 507 So.2d 691 (1987); Fla.Stat. § 687.01....

...Under the trial court's order, interest runs from the date of the order which determined the amount of restitution. The interest is specifically set at 10% per year, and the interest must be simple, not compound, interest. See Dezen v. Slatcoff, 65 So.2d 484, 485 (Fla. 1953); § 687.01, Fla....

...its various provisions. Id. at 225. [3] Ebaugh also argues that the court erred in ordering him to pay interest at the rate of 10% because there was no evidence that the victims could have received 10% annual interest if they had invested the money. Section 687.01, Florida Statutes (1989), imposes a statutory rate of 12% annual interest unless the parties agree to a lesser or greater rate by written contract....

...t on the $50,000 lump sum alimony payment from February 1, 1991 until April 4, 1991 at the legal rate of 12% annual interest [1] and for the award of reasonable attorney's fees. REVERSED and REMANDED. GOSHORN, C.J., and COWART, J., concur. NOTES [1] § 687.01, Fla....

...[2] The notion of interest on interest probably became more plausible when the availability of prejudgment interest was expanded in Argonaut Insurance Co. v. May Plumbing Co., 474 So.2d 212 (Fla. 1985). There has long been a statutory provision establishing a legal rate of interest in the absence of a contractual provision. § 687.01, Fla....

...In its cross-appeal, Forest Land contends that it is entitled to interest on the judgment from the date of the original arbitration award, September 29, 1971, at either the "statutory" rate [2] or, in the alternative, at the rate of 6% pursuant to Section 687.01, [3] Florida Statutes (1981), because the Arbitration Agreement provided that Haskell was to pay the award, if any, by "demand note"....

...Haskell responds that no interest is due under any circumstances. Our examination of the arbitration agreement, entered into by the parties on May 27, 1971, discloses that the agreement fails to provide for interest. Accordingly, we reject Forest Land's argument that Section 687.01 should control in this case....

...(2) Any process, writ, judgment, or decree which is directed to the sheriffs of the state to be dealt with as execution shall bear, on the face of the process, writ, judgment, or decree, the rate of interest which it shall accrue from date of judgment until payment. [3] Section 687.01, Florida Statutes (1981), provides that "[i]n all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 6 percent per annum, but parties may contract for a lesser or greater rate by contra...

...tends that this section applies to entitle it to at least 6% interest from September 29, 1971, by virtue of the fact that Haskell was to pay the arbitration award by "demand note" which, Forest Land argues, is a form of promissory note controlled by Section 687.01....

...commercial standards. The UCC does not prohibit or limit an award of prejudgment interest. [3] Therefore, under Argonaut Insurance Co. v. May Plumbing Co., 474 So.2d 212 (Fla. 1985), the trial court was correct in allowing prejudgment interest (per section 687.01, Florida Statutes) to the payee on the verdict liquidating the damages as of a date certain, being in this case, the date of the conversion of the proceeds of the check....

...The amount of the damages is established as of a date certain prior to the date of entry of a judgment. Computation of prejudgment interest here involves merely a mathematical calculation. As Argonaut points out, the legislature has established a statutory interest rate which controls prejudgment interest. Section 687.01, FLORIDA STATUTES....

...After careful review of the record, we affirm the final judgment in all respects except one. The trial court awarded pre-judgment interest to the appellee, Eugene Calabrese. The court calculated part of this amount by applying the statutory rate of interest, pursuant to section 687.01, Florida Statutes (2005)....

...The best evidence of the intention of contracting parties is to be found in the plain language of the contract. See Whitley v. Royal Trails Prop. Owners' Ass'n, Inc., 910 So. 2d 381, 383 (Fla. 5th DCA 2005). As the parties agreed to use the LIBOR rate, that is the rate that should govern. Moreover, section 687.01 specifically says that the statutory rate applies when the contract is silent on the matter....

...on behalf of First Union were reasonable. The plaintiffs, in addition, are entitled to recover $3,322.88 in prejudgment interest at 12 percent on this amount from May 27, 1993 (the date specifically asserted by the plaintiffs (Doc. 72, p. 16)). See § 687.01, Fla.Stat....

...as a ground for refusing to proceed with an assignment covered by indemnity agreements. [17] Hoyt denied that payment was sought before the documents were provided. It is not necessary to resolve this factual dispute. [18] Prior to October 1, 1994, § 687.01, Fla.Stat., provided that, in the absence of a specified contractual rate, prejudgment interest should accrue at a rate of 12 percent per annum....

...int. We find no error in the court allowing interest at the rate of 6% from the date of the defendant's breach of this agreement. See Sullivan v. McMillan, Fla. 1896, 37 Fla. 134, 19 So. 340 (1896); Huntley v. Baya, Fla.App. 1962, 136 So.2d 248; and § 687.01, Fla....

...Accordingly, we remand the case to the trial court with directions that it add to the judgment an award of interest calculated at six per cent per annum from October 5, 1981, [3] the date upon which the debt was due and owing, to July 1, 1982, the effective date of the amendment to Section 687.01, Florida Statutes (1982), and at twelve per cent per annum from July 1, 1982, to the date of the judgment....

...Rehearing Denied September 29, 1998. *1092 Bryan W. Duke, Fort Lauderdale, for appellants/cross-appellees. Bard D. Rockenbach, and Daniel M. Bachi of Sellars, Marion & Bachi, P.A., West Palm Beach, for appellee/cross-appellant. GROSS, Judge. The main issue in this appeal is whether section 687.01, Florida Statutes (1989), controls a commercial lease which provides that interest on a security deposit "shall accrue to the tenant," but fails to discuss the rate at which the interest will accrue....

...In addition, WPB tendered an interest payment of $3,623.58, along with a detailed interest calculation showing a rate varying from 1.75% to 4.75% over the course of the lease. Supran refused the tender of interest, contending that he was entitled to the statutory interest rate pursuant to section 687.01, Florida Statutes (1989). Section 687.01, Florida Statutes (1989), provides: 687.01 Rate of interest in absence of contract.—In all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 12 percent per annum, but parties may contract for a lesser or greater rate by contract in writing. [1] This case falls squarely within section 687.01....

...1st DCA 1961) (indicating that "where a person places property with a broker for sale, he impliedly agrees, in the absence of a special contract, to pay the customary commission"). Reference to the 1895 case of Clyde Steamship is appropriate to construe section 687.01, since the term "special contract" first appeared in the 1892 version of the statute....

...e tenant and that it could be commingled with "other security/damage deposits or funds of the Landlord." As to the rate of interest to be paid, the lease was silent. There was no "special contract," no explicit contractual provision fixing the rate. Section 687.01 therefore determines the rate of interest. We reject appellant's argument that section 687.01 applies only when "interest automatically accrues" without the necessity of a provision in a contract. We recognize that section 687.01 applies in non-contract cases where the law requires that a liquidated debt accrue interest....

...rgen Brunswig Corp. v. State, 415 So.2d 765 (Fla. 1st DCA 1982) (action for conversion). For example, in Kissimmee Utility Authority v. Better Plastics, Inc., 526 So.2d 46 (Fla.1988), the supreme court allowed prejudgment interest at the rate set in section 687.01 in a case involving a power customer's claim for refund due to an overcharge by the utility. Section 687.01 also applies to situations where the obligation to pay interest does not arise as a matter of law, but is created by contract....

...In Secrist, the second district used the contract rate of 1½% per month to determine the prejudgment interest rate for unpaid rental charges; however, because the contract was silent as to the interest rate applicable to a liquidated damages clause, the court applied section 687.01. The third district in Celotex applied the section 687.01 interest rate to set prejudgment interest in favor of a building materials supplier in a breach of contract action....

...The court reasoned that the "18% per annum on all past due accounts" which was specified in the plaintiff's invoices had not been agreed to in writing by the builder. Similarly, in Haskell v. Forest Land and Timber Co., 426 So.2d 1251 (Fla. 1st DCA 1983), the first district did not apply section 687.01 to award interest on an arbitration award, because the parties' arbitration agreement failed to provide for interest....

...The necessary implication of Haskell is that the statute would have been *1094 applicable to set an interest rate from the date of the arbitration award, had the arbitration contract provided for interest. 426 So.2d at 1253 n. 4; see Shakeshober v. Florida Resort Development, 492 So.2d 816 (Fla. 4th DCA 1986) (section 687.01 applied to determine interest on return of deposit where vendor had breached real estate contract). Appellant also argues that section 687.01 does not apply to security deposits called for in a lease because of its inclusion in Chapter 687, Florida Statutes (1997), entitled "Lending Practices"; appellant contends that a security deposit is not a loan, so the statute does not apply....

...The location of a law in a "particular title or chapter of Florida Statutes is not determinative on the issue of legislative intent, though it may be persuasive in certain circumstances." State v. Bussey, 463 So.2d 1141, 1143 (Fla.1985). This principle is especially applicable to section 687.01 and its similarly worded predecessors, which have been placed under four different chapter titles since 1892....

...Until the most recent change in chapter nomenclature, the law's chapter headings support the interpretation that the statute applied to all contracts, not just those dealing with loans. In the change to the current chapter title, we do not discern a legislative intent to override the general language of section 687.01....

...Finally, we reject appellant's claim that an affirmance of the trial court will create havoc in the marketplace. This opinion will not apply to commercial leases which do not call for the payment of interest to the tenant on a security deposit. Nor will section 687.01 be implicated where a lease or contract sets a variable rate of interest based on some ascertainable standard....

...Because the record demonstrates that Stiles had at least $200,000 in equity in the leased property, Stiles' obligation to guarantee the performance of the landlord was not triggered under the terms of the guaranty. AFFIRMED. DELL, J., and OWEN, WILLIAM C., Jr., Senior Judge, concur. NOTES [1] Section 687.01, Florida Statutes (1997), now states: In all cases where interest shall accrue without a special contract for the rate thereof, the rate is the rate provided for in s....

...Cavanaugh, 732 F.2d 832, 835 (11th Cir.) cert. denied 469 U.S. 1036, 105 S.Ct. 512, 83 L.Ed.2d 402 (1984). Therefore, pre-judgment interest is awarded at the statutory rate of 12% on the amount awarded as damages for barratry, $8,891.07. Fla.Stat.Ann. § 687.01 (West 1966 & 1987 Supp.)....

...awarded pursuant to a contract or applicable statute or where a fund has been created or brought into court. Colvin v. Homan, 442 So.2d 370 (Fla. 2d DCA 1983). Likewise, unless altered by contract, the rate of prejudgment interest is established by section 687.01, Florida Statutes (1983)....

...units for their respective liabilities and eliminate the lien as against the condominium property as a whole. The amended judgment, if in favor of East Coast, should also include prejudgment interest of twelve percent, rather than eighteen percent. § 687.01, Fla....

...A person to whom a debt is owed is entitled not only to the payment of the principal of the debt but also to interest at the lawful rate. Parker v. Brinson Construction Co., 78 So.2d 873 (Fla. 1955); Vacation Prizes, Inc. v. City National Bank of Miami Beach, 227 So.2d 352 (Fla. 2d DCA 1969). Under Section 687.01, Florida Statutes (1977), interest shall be assessed at the rate of 6% per annum....

...Moreover, the statute says that the judgment bears interest at the rate specified in the note. Here, because there is no provision for interest at all, there is obviously no rate "specified" in the note. Under these circumstances, we conclude that section 687.01, Florida Statutes (1991), applies the statutory rate of 12 percent to interest accruing after the default....

...the statutory rate of interest. Argonaut Ins. Co. v. May Plumbing Co., 474 So.2d 212, 215 (Fla. 1985). Specifically, the statutory rate of six percent should have been assessed on the loan from the loan's inception in July, 1980, through June, 1982. § 687.01, Fla....

...nt, see Department of Transp. v. M.C.C. of Florida, Inc., 540 So.2d 834, 835 (Fla. 1st DCA 1988), the statutory rate of twelve percent should have been assessed from the period beginning in July, 1982, through the end of the loan in September, 1989. § 687.01, Fla....

...lted coupons. We are next asked to decide whether the trial court properly computed interest on the defaulted coupons at the rate of eight per cent, which was the statutory rate in effect when the bonds were issued, Section 4849, R.G.S. 1920, F.S.A. § 687.01, or whether the rate should at any time have been established at six per cent, which was not only the bond rate but also became the statutory rate with enactment of Chapter 22745, Laws of 1945, F.S.A. § 687.01....

...Rapson, 401 So.2d 907 (Fla. 1st DCA 1981). The interest on back benefits due at the time of the order and each biweekly installment due thereafter accrued from the appropriate due date at the general statutory rate of 6 percent for delinquencies arising before July 1, 1978. Section 687.01, Fla....

...ul interest on a worker's compensation award from the date each installment was due and should have been paid. Parker v. Brinson Construction Co., 78 So.2d 873 (Fla. 1955). For example, the legal interest rate in Parker was, and is now, six percent. § 687.01, Florida Statutes (1979). We read § 440.20(7) to provide for a specific interest rate in worker's compensation cases which supersedes the general provisions of § 687.01....

...f Sumter v. Wright, 76 So.2d 863 (Fla. 1955), we hold that § 25 of Chapter 78-300 prohibits the application of the twelve percent interest rate to claims arising out of injuries occurring before July 1, 1978. Thus, the interest rate provided for in § 687.01 is applicable here....

...eement to the contrary. See generally 47 C.J.S. Interest and Usury § 12; 32 Fla.Jur.2d Interest and Usury § 2. However, the law will only imply a contract for the payment of interest at the legal rate, which in this case was six percent per annum. § 687.01, Fla....

...seek compensation for his efforts. Next, the Court must apply the statutory rate of interest in effect at the time the interest accrued. Argonaut, 474 So.2d at 215. In Florida, the rate of prejudgment interest is set by the Legislature in Fla.Stat. § 687.01 (1991). According to a review of § 687.01, the statutory rate in effect from the date of the Martin's termination until the entry of judgment remained twelve per cent per annum....

...came inoperative. Under our construction, then, the note contains no express provision as to the rate of interest after the maturity date, in which circumstance the legal rate of interest of six per cent is applicable after that date, as provided by Section 687.01, Florida Statutes, F.S.A....

...of the debt upon which it was recovered, the Court shall enter an order canceling and discharging said judgment. The order of cancellation and discharge shall have the same effect as a satisfaction of judgment. . . . § 55.145, Fla.Stat. (1993). [3] Section 687.01, Florida Statutes, provides that "[i]n all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 12 percent per annum....

...n award of attorney's fees and costs for a multiple criminal practices and, among others, submitting a false insurance claim, Fla.Stat. 817.234. In support of entitlement to interest up to the date of the entry of a judgment, counsel cites Fla.Stat. 687.01, and Fla.Stat....

...of the breach, such amount bears interest from the date of the breach. See Brite v. Orange Belt Securities Co., 133 Fla. 266 , 182 So. 892 . The Statute of Florida in effect on the date of the breach of the contract between plaintiff and defendants, Section 687.01, F.S.A., prescribed an interest rate of 8% per annum and....

...Appellant's claim at all times has been that the measure of damages was his loss of bargain. Appellee has previously refunded appellant his deposit money plus 8% interest. We conclude that appellant is entitled to payment of interest at 12%, pursuant to section 687.01, Florida Statutes, but has failed to prove any other special damages....

and is obligated to follow Florida Statutes, § 687.01: Furthermore, just as the loss theory forecloses

...s for summary judgment (Doc. 70), but the attorneys did not do so. Significantly, a claim for interest would be relatively complex. Thus, there are at least four possible interest rates that could apply: *258 (1) a 12% prejudgment interest rate, see § 687.01, Fla.Stat.; (2) the variable interest rate established by the 1994 amendment to § 687.01; (3) the postjudgment interest rate set forth in the judgment; or (4) the interest rate applicable to the funds after deposit with the court....

...Weaner, 503 So.2d 1380 (Fla. 2d DCA 1987), rev. denied, 513 So.2d 1061 (Fla.1987), the notes were non-interest bearing only through the due date. Once the due date arrived, the deferred obligation evidenced by the note became a debt which was subject to section 687.01, Florida Statutes (1989)....

reversed by the appellate court, which held that section 687.01, Florida Statutes, was applicable since the

...Further, it cannot be seriously contended that American’s counterclaim is not based upon an express, written contract. The fact that the contract has no express provision concerning interest is of no consequence since such a provision will be implied by law. § 687.01, Fla.Stat....

...The trial court should be cognizant of this distinction when it awards attorney’s fees at a subsequent hearing. All parties agree that the trial court computed prejudgment interest erroneously in a number of instances. The legal rate of interest in section 687.01, Florida Statutes, was changed from six to twelve per cent on June 30, 1982....

highest allowable interest rate is 6% per year. See § 687.01, Fla.Stat. Appellant prayed: (a) for an accounting

...Accordingly, this case is remanded and the trial judge is directed to amend the final judgment to show that the breach occurred on August 29, 1984, and to award Chiado interest at the statutory rate of 12 percent from August 29,1984, through entry of the final judgment. See section 687.01, Fla....

...The Cabinet Shop is, however, entitled to interest on the amount of $947.67 from October 7,1977, the date it filed its lien, until February 8, 1978, the date the Credit Union paid that sum into'the registry of the court. Peter Marich and Associates, Inc. v. Powell, 365 So.2d 754 (Fla. 2nd DCA 1978) and Section 687.01, F.S., 1977....

May Plumbing Co., 474 So.2d 212 (Fla.1985); Section 687.01, Florida Statutes (1983). IT IS ORDERED AND

...We also note that it was error for the trial court to award the Clarkes eighteen percent (18%) interest. The bonds in question make no provision for any particular rate of interest. Therefore, the maximum legal rate of interest the trial court could award, assuming any interest should be awarded, is controlled by section 687.01, Florida Statutes (1981)....

...act as to whether all the materials supplied by the appellee were delivered and incorporated in the construction project and as to whether the appellee is entitled to its “service charges” or is limited to the legal rate of interest specified in section 687.01, Florida Statutes (1983)....

...of discretion standard.” In re Drummond, 69 So. 3d at 1057. When no specific contractual provision provides the rate of interest to be assessed on a judgment, the statute governing the interest on judgments, section 55.03, Florida Statutes, sets the rate of interest. See § 687.01, Fla....

...As to the latter, the final judgment is reversed and the cause is remanded to the trial court with directions to add pre-judgment interest to the final judgment in this case in the amount of $2,226.75. Parker v. Brinson Construction Co., 78 So.2d 873 (Fla.1955); § 687.01, Fla....

the rate provided for by Florida law. Fla. Stat. § 687.01 (rate in absence of contract is provided in §

...Carr Construction Co., 387 So.2d 417 (Fla. 1st DCA 1980); § 440.20(7), Florida Statutes (1978). The applicable legal interest rate on benefits which became delinquent prior to July 1, 1978, is 6% pursuant to the statutory provision in effect at the time of the claimant’s accident. § 687.01, Florida Statutes (1977); Myers, supra....

...from the date of that loss.” Id. at 215. For actions sounding in contract, prejudgment interest is allowed “from the date the debt is due.” Lumbermens Mut. Cas. Co. v. Percefull, 653 So. 2d 389, 390 (Fla. 1995). With respect to the interest rate, section 687.01, Florida Statutes (2016) provides that “[i]n all cases where interest shall accrue without a special contract for the rate thereof, the rate is the rate provided for in s....

...We affirm the cost judgment in all respects, specifically including the addition of post agreement interest to the settlement amount, as indicated by the foregoing paragraphs, and the award and amount of attorneys fees incurred by defendants in the enforcement of the agreement. SHAHOOD and TAYLOR, JJ., concur. . See § 687.01, Fla....

through April, 1983. The trial court, pursuant to Section 687.01, Florida Statutes, awarded buyers prejudgment

...ount before these deductions. But we reverse that part of the circuit court’s order that refused to apply the statutory interest rate when awarding prejudgment interest beginning November 20, 2006. In this the circuit erred as a matter of law. See § 687.01, Fla....

...We find no error in the issues raised by appellant and therefore affirm. Provided, however, the award of prejudgment interest is incorrectly calculated. Interest accrued at the rate of six percent (6%) per annum to July 1, 1982, the effective date of an amendment to Section 687.01, Florida Statutes (Supp.1982)....

COWART, Judge. Appellee, an electric service public utility, owes appellant, a customer, a refund for overcharges. The customer claims it is entitled to prejudgment interest on the overcharge refund under section 687.01, Florida Statutes and Argonaut Insurance Company v....

22745, Laws of Florida, on May 29, 1945, F.S.A. § 687.01, and 6 per cent, on those maturing after that

...hough Genvest’s right to accelerate in such event is forestalled for a period of thirty days. On remand, the trial court must determine the interest rate to be applied to the delinquent payments. At all times since the making of the mortgage note, section 687.01, Florida Statutes, has provided that interest shall accrue at the rate of twelve percent unless the parties contract for a lesser or greater rate in writing....

...A plain reading of the statute neither authorizes nor prohibits the award of compound interest and incorporates broad language that requires the trial court’s determination of the rate of interest. The trial court employed the variable rates prescribed by section 687.01 for each of the years beginning in 1988 and ending on the date of the judgment....

...Athle-Tech Computer Sys., Inc., 889 So.2d 180, 199 (Fla.Dist.Ct.App.2004) (unjust enrichment). In the absence of a special contract for the rate, the applicable rate of interest is generally stated in § 55.03, Fla. Stat. IberiaBank v. Coconut 41, LLC, 984 F.Supp.2d 1283, 1299 (M.D.Fla.2013) (citing Fla. Stat. § 687.01 )....

...sel also correctly argued that the interest rate on all of the unpaid assessments was improperly charged in excess of the statutory rate. In the absence of an agreement, the statutory interest rate must be used to calculate prejudgment interest. See § 687.01, Fla....

...nt also testified, however, that at some point Plaza charged Jenkins 8% interest. It is unclear which interest rate was charged on which payment, and none of the interest rates used appear to be based upon section 55.03, Florida Statutes (2012). See § 687.01, Fla....

on unpaid workers' compensation pursuant to section 687.01, Florida Statutes, which at the time was six

...The appellant having conceded that the trial court erred in ordering the husband to pay fifteen per cent interest on the unpaid installments of lump sum alimony, the final judgment of dissolution is modified to provide that the interest on such installments be six per cent, see § 687.01, Fla.Stat....

parties agree that the appropriate rate is 6%, § 687.01 Fla.Stat. (1979). The claim of the named insured

...IAM. The employer/carrier appeals a worker’s compensation order which we affirm, except as to the award of interest at 8%. Interest should have been awarded at a rate of 6%, rather than 8%, and the judge’s order is hereby modified to so reflect. § 687.01, Fla.Stat.; Parker v....

...te to determine that the defendant is entitled to be compensated for an hour and a half a day for 300 days at the rate of $10.00 per hour for a total of $4,500.00. As to interest, arguments are made at two extremes. On one hand, that Florida Statute § 687.01 calls for interest at the rate of 12 percent....

...1st DCA 1984), the court noted that the statute refers to an award of interest upon “settlement of claims,” and that the terms “cannot seriously be contended to include litigation culminating in a jury verdict necessitated by the failure to settle the cost claims presented to DOT.” 457 So.2d at 528 . Section 687.01, Florida Statutes (1977), provides: In all cases where interest shall accrue without a special contract for the rate thereof, the rate shall be 6 percent per annum, but parties may contract for a lesser or greater rate by contract in writing. Appellant conceded that prejudgment interest was assessable. The statutory prejudgment interest rate in effect at the time the interest accrues applies. Argonaut Insurance Co. v. May Plumbing Co., 474 So.2d 212 (Fla.1985). Section 687.01 was amended effective July 1,1982 to provide for a 12 percent annual interest rate....

...ied. The case of Olson v. Hirschberg, 145 So.2d 303 (Fla. 1st DCA 1962), supports the appellants. In that case, the trial court applied the pre-maturity interest rate agreed to by the parties, and was reversed by the appellate court, which held that section 687.01, Florida Statutes, was applicable since the parties had not expressly contracted in regard to the rate of interest after maturity....

...rdict has the effect of fixing damages as of a prior date.” The parties stipulated to the amount of property damage and agreed that if prejudgment interest were to run, it should run as of March 17, 1981. At that time, the interest rate was set by Section 687.01, Florida Statutes (1981), at six percent per annum....

...Johns County is entitled to recover from the insurer Vanguard are those sums which Vanguard was legally liable under its policy of insurance to pay to Sheriff O’Loughlin and which the county paid and those sums were $17,100 for back pay plus prejudgment interest thereon (simple interest at 12% per annum under section 687.01, Florida Statutes) from the date of payment of that sum by St....

...COBB and GRIFFIN, JJ., concur. . We expressly do not adopt or recognize the rationale or result in this federal case as being the law of the State of Florida. . Both parties agree this prejudgment interest award is erroneous. Both agree prejudgment interest under section 687.01, Florida Statutes, should be calculated at 12% interest per annum for 561 days, the period from time that elapsed between the date of the consent order and the date of the order entering summary judgment....

...Rule 21, on which appellant relies for a 6% rate, was repealed prior to the date on which the benefits in question accrued or became due, we conclude the facts and argument by the parties will permit no higher rate. § 55.-03(1), Florida Statutes; § 687.01, Florida Statutes; Miami-Dade Water & Sewer Authority v....