P.R. Laws tit. 31, § 3025

2019-02-20 00:00:00+00
§ 3025. Interest as indemnity for nonpayment of money

Should the obligation consist in the payment of a sum of money, and the debtor should be in default, the indemnity for losses and damages, should there not be a stipulation to the contrary, shall consist in the payment of the interest agreed upon, and should there be no agreement, in that of the legal interest.

Until another rate is fixed by the Government, interest at the rate of six percent (6%) per annum shall be considered as legal.

History —Civil Code, 1930, § 1061.