The toll of the passing of time

The Damage Caused by the Passage of Time: An Economic Approach to Default Interest and Compensatory Interest, by Maurice Nussenbaum, published in the Revue de Droit Bancaire et Financier, No. 6, November/December 2017

A delay in the payment of a monetary debt gives rise to a loss which, by virtue of the law, is calculated on a flat-rate basis together with default interest. There are also other forms of loss, including those linked to the impact of time on economic damages.

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