3 Haw. 397 | Haw. | 1872
This is a suit brought by the plaintiff to recover interest accrued on the balance due on an account stated, the principal having been paid by the defendant.
Section 1480 of the Civil Code provides that interest shall be allowed “ for money due on the settlement of accounts from the day on which the balance is ascertained.”
As in our opinion this is a case under the above provision of the statute, the judgment of the lower Court is confirmed.
Hartwell, J. I think the statute covers this case in allowing nine per cent, interest on all sums due on settlement of accounts where no higher rate is expressly agreed upon in writing. For it seems to me, that although the probate act postpones for some six months payment of claims against the estates, of deceased persons, the word “due” is used in the statute not as synonymous with “payable,” but looking only at the agreement of -the parties, and at the time when the debts thereby became due. The presumption that such was the meaning of the statute is strong in cases of actual or implied contract to pay interest from a given time. It is an implied condition in all simple contracts, that the personal representative of either party is liable to the extent of assets for a breach of the contract, whether it occur during the lifetime of the party or not. No one would care to loan money at interest with risk of losing six months’ interest at the death of the borrower. There may be eases, where interest re|ts on no actual or implied contract, but merely on the ground of damages, in which delay in payment, consequent upon the act of God and operation of law, would not involve the running of interest. But this statute I have no doubt goes on the theory of an implied contract in the cases it enumerates, and not on the theory of earlier days, that it was a sin to contract for a loan of money at interest.
I see no cause, however, for resorting to the statute in the
The foregoiug views are stated because they suggest interestiug questions that the case involves.