When interest at a specified rate is expressly made payable on a promissory note or bill of exchange, interest shall be calculated at the rate specified, on the amount of the principal money due thereon, from the date of the instrument, until tender or realization of such amount, or until such date after the institution of a suit to recover such amount as the Court directs.
Section 79: Interest when rate specified.
The Negotiable Instruments Act, 1881Central Act · Act 26 of 1881
Where this provision sits
| Act | The Negotiable Instruments Act, 1881 |
|---|---|
| Section | 79 |
| Marginal note | Interest when rate specified. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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