Dave's ESL Cafe's Student Discussion Forums

[KejciorF]

Hi Everybody,

can someone please explain what does "before and after any judgment" in the following means:

The amount shall bear interest from the due date untill payment is made in full, both before and after any judgment, at 3%.

TIA,

Kate.

[CP]

This must be from a promissory note. Borrower borrows a sum of money from lender, signing a promissory note that indicates how much was borrowed, when it must be paid back, and under what terms.

This sentence says that the borrower will pay back the principal (amount borrowed) starting from a due date, with interest at 3% per annum (per year) added to the unpaid balance, until all paid off.

If borrower fails to pay, lender may sue and obtain a judgment. Under this agreement, borrower will owe interest on the unpaid judgment at 3% per annum, too.
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