Chapter

Capitalisation of Interest

Max Loubser

in European Contract Law

Published by Edinburgh University Press

Published in print February 2006 | ISBN: 9780748624256
Published online March 2012 | e-ISBN: 9780748651429 | DOI: http://dx.doi.org/10.3366/edinburgh/9780748624256.003.0013
Capitalisation of Interest

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This chapter explores the issues of capitalisation of interest under the Principles of European Contract Law (PECL), discussing the nature and function of interest and the history of rules of capitalisation. It explains that the legal rules on capitalisation indicate circumstances where the taking of interest on interest is tolerated in terms of a statute, agreement or trade usage. The chapter analyses Article 17:101 of PECL and compares it with the positions in Scotland and South Africa.

Keywords: capitalisation of interest; PECL; legal rules; trade usage; Article 17:101; Scotland; South Africa; statute; agreement

Chapter.  15450 words. 

Subjects: Company and Commercial Law

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