Multiple choice

Where the liability in relation to sum adjudged has not arisen out of a commercial transaction, the maximum yearly rate of interest awardable under Section 34(1) of the CPC from the date of decree for payment of money to date of payment, is

  1. 12%

  2. 18%

  3. 10%

  4. 6%

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Option (1) is incorrect: No such provision Option (2) is incorrect: No such provision Option (3) is incorrect: No such provision Option (4) is correct: Under Section 34 of the CPC, where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further interest may exceed six percent per annum.