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Global Sales and Contract Law by Schwenzer, Ingeborg; Hachem, Pascal; Kee, Christopher (26th January 2012)

Part XI Remedies for Breach of Contract, 46 Interest

From: Global Sales and Contract Law

Ingeborg Schwenzer, Pascal Hachem, Christopher Kee

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 30 May 2020

Subject(s):
Interest as damages — Compound interest — Calculation of interest — Payment of interest — Remedies for breach of contract
46.01 The obligation to pay interest is not the first concept that springs to mind when discussing sales transactions. Probably, this obligation is primarily associated with loan contracts, which are not addressed in this work.1 However, that association is already quite close to the traditionally predominant set of circumstances in which interest is also relevant to sales contracts: late payment of the purchase price, which in its economic effects is a loan—involuntarily—given by the seller to the buyer. However, this is not the only constellation where interest...
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