Opinion ID: 1927150
Heading Depth: 1
Heading Rank: 6

Heading: Interest on Liquidated Debt.

Text: Two actions in the present appeal were commenced by the Association for payment of merchandise purchased by the Wisconsin Liquor Company of Green Bay for $125,597, and by the Wisconsin Liquor Company of Oshkosh for $181,465.35. The two liquor companies denied liability for that amount but admitted liability for lesser amounts of $122,767.95 and $175,231.07 as a result of credits due them on the merchandise purchased. Prior to trial these parties stipulated that the final amounts owed to the Association for the merchandise were $124,097 and $178,132.35, respectively, plus interest and costs which the parties would compute later. However, no interest was computed on these amounts in the memorandum decision. After hearing the arguments of counsel and reviewing their briefs relative to this issue, the trial court by a supplemental opinion amended its previous order and allowed interest on these amounts at the rate of five percent and computed from forty-five days after the goods were received. The Peckarsky Companies now contend that these amounts consisted of the respective sums due in payment of  merchandise after deducting certain credits as stipulated on February 20, 1962. They argue that the claims of the Association forty-five days after the receipt of the goods were unliquidated and no interest was allowable because these amounts were not known at that time, for the credits due the Peckarsky Companies on the merchandise had not yet been determined. We have held that before interest can be recovered the amount claimed must be fixed or determined or readily determinable. Maslow Cooperage Corp. v. Weeks Pickle Co. (1955), 270 Wis. 179, 192, 70 N. W. (2d) 577. See Necedah Mfg. Corp. v. Juneau County (1932), 206 Wis. 316, 334, 237 N. W. 277. The parties in the present case did not dispute the initial amounts claimed by the Association for the merchandise purchased but they adjusted this amount by their stipulation to allow for certain credits presumably as a setoff. The existence of a setoff, counterclaim, or cross claim, although itself unliquidated, will not prevent the recovery of interest on the balance of the demand found due from the time it became due. Maslow Cooperage Corp. v. Weeks Pickle Co., supra, page 193. The trial court apparently found that from the business records on these transactions payment on the merchandise was due forty-five days after receipt; a contrary finding would not support the judgment. At that time the Peckarsky Companies could have tendered payment in order to stop interest from running. Therefore, the trial court did not err in allowing interest on these amounts computed forty-five days after the merchandise was received.