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Report No. 63

2.21A. Meaning of "interest".-

Finally, it may be noted that the word "interest", is derived from the mediaeval Latin "interse" and "id quod interest", and signifies the notion of loss or damage suffered by the claimant as opposed to the usurious conception of reward for money lent-cf. the French phrase "dommages et interests1."

1. Westminster Bank Ltd. v. Riche, (1946) 1 All ER 466 (472).

Interest Act, 1839 Back

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