Tag Archives: Prejudgment Interest

Real Property – ILSFDA – Rescission – First Impression — Prejudgment Interest – Developer’s Exemption Inapplicable (access required)

Nahigian v. Juno-Loudoun LLC A Northern Virginia couple can get back their $1.674 million purchase price for a lot in a residential community affiliated with the Ritz-Carlton Hotel company; the 4th Circuit says the buyers can rescind the deal under the Interstate Land Sales Full Disclosure Act and get more prejudgment interest because the developer is not protected by an ILSFDA exemption for developments with less than 100 lots.

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Contract – Prejudgment Interest – State Construction Project – S.C. Code Ann. § 34-31-20 – Notice Requirement (access required)

EllisDon Construction, Inc. v. Clemson University. Even though the parties' contract did not designate a numeric value for the interest rate applicable to late payments, since the contract incorporated a statute that determines the interest rate, the plaintiff-contractor is not entitled to prejudgment interest under S.C. Code Ann. § 34-31-20(A) because ...

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