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4.5-15 Interest Pursuant to General
Statutes § 37-3a
Revised to January 1, 2008
In addition to
damages on the ___ count, you may award interest. This is
intended to compensate the plaintiff for the loss of use of
money that was not paid when it was due. To award interest,
you must find that the plaintiff is entitled to an award of
damages in the first place, and you must find under all of
the circumstances that the defendant wrongfully detained
money due to the plaintiff. There is no hard and fast rule
for what constitutes wrongful detention. The question is
whether justice requires that the plaintiff be paid interest
for the loss of use of money.
If you decide to
award interest, then you must compute the amount. Your
verdict form will help you to do this. You must first
determine the time period that the money was wrongfully
detained. In this case, it is claimed that the wrongful
detention began <the date the defendant breached the
contract or when the money under the contract became due and
payable>, and the end date would be <date of the
verdict>. You need to determine the total number of
days. Under our statutes you must divide that number of
days by 360 days. You should then multiply that by __
percent, which is our annual interest rate. You should then
multiply that percentage by the total amount of damages to
come up with the amount of interest.
Authority
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