2018 California Code
Civil Code - CIV
DIVISION 4 - GENERAL PROVISIONS
PART 1 - RELIEF
TITLE 2 - COMPENSATORY RELIEF
CHAPTER 1 - Damages in General
ARTICLE 2 - Interest as Damages
(a) Any legal rate of interest stipulated by a contract remains chargeable after a breach thereof, as before, until the contract is superseded by a verdict or other new obligation.
(b) If a contract entered into after January 1, 1986, does not stipulate a legal rate of interest, the obligation shall bear interest at a rate of 10 percent per annum after a breach.
For the purposes of this subdivision, the term contract shall not include a note secured by a deed of trust on real property.
(Amended by Stats. 1986, Ch. 176, Sec. 1. Effective June 23, 1986.)