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European Contract LawScots and South African Perspectives$
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Hector MacQueen and Reinhard Zimmermann

Print publication date: 2006

Print ISBN-13: 9780748624256

Published to Edinburgh Scholarship Online: March 2012

DOI: 10.3366/edinburgh/9780748624256.001.0001

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Capitalisation of Interest

Capitalisation of Interest

(p.331) 13 Capitalisation of Interest
European Contract Law

Max Loubser

Edinburgh University Press

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

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