How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask socrateaser Your Own Question
socrateaser
socrateaser, Attorney
Category: Estate Law
Satisfied Customers: 38552
Experience:  Retired (mostly)
10097515
Type Your Estate Law Question Here...
socrateaser is online now
A new question is answered every 9 seconds

for socrateaser only - Hi there......I asked a question about

This answer was rated:

for socrateaser only - Hi there......I asked a question about potential application of interest on a client's late fees in CA just recently and was advised no go unless in the written contract because the client was in CA. However, I thought you answered an earlier question of mine which should be considered and back on 9/16/2013 (above). This answer compared to yesterday’s now totally confuses me. It does appears that while I am the last signer and in Idaho, where the contract was made, and the work done is also done from Idaho that Idaho law prevails unless I am totally misunderstanding the answer from 9/16. Based on the earlier answer it appears that I may well be able to invoice interest under ID Stat. 28-22-104. There is no other contractual interest stated in the contract, nor is interest mentioned at all and the money due upon receipt is clearly stated in my agreement.
Hi there......I asked a question about potential application of interest on a client's late fees in CA just recently and was advised no go unless in the written contract because the client was in CA.

A: That's not what I said, so perhaps there was a miscommunication. You can charge 10% per year prejudgment simple interest on the unpaid late balance, but the only way you can collect, if the customer doesn't pay, is to sue.

However, I thought you answered an earlier question of mine which should be considered and back on 9/16/2013 (above). This answer compared to yesterday’s now totally confuses me. It does appears that while I am the last signer and in Idaho, where the contract was made, and the work done is also done from Idaho that Idaho law prevails unless I am totally misunderstanding the answer from 9/16. Based on the earlier answer it appears that I may well be able to invoice interest under ID Stat. 28-22-104.

A: Yes. These facts would give you prejudgment simple interest at 12% of the unpaid balance due. So, you get an extra 2% per year, under Idaho law.

There is no other contractual interest stated in the contract, nor is interest mentioned at all and the money due upon receipt is clearly stated in my agreement.

Hope this helps.

socrateaser and other Estate Law Specialists are ready to help you
Customer: replied 3 years ago.


Yes, it does.


 


TY!


 

You're welcome and good luck!
socrateaser and other Estate Law Specialists are ready to help you

Related Estate Law Questions