Court Opinion

ID: 9561761
Source: CourtListenerOpinion
Date Created: 2023-08-21 18:15:43.060444+00
Date Added: 2024-06-11T09:14:23.648340
License: Public Domain

Judge Greene
concurring.
I write separately with respect to the calculation of interest. Our statute provides that in actions for breach of contract, “the amount awarded on the contract bears interest from the date of the breach.” N.C.G.S. § 24-5(a) (1991). If, however, there is a “valid tender of payment for the full amount” due under the contract, the amount awarded does not bear interest from the date of the breach. Thompson-Arthur Paving Co. v. Lincoln Battleground Assoc., 95 N.C. App. 270, 282, 382 S.E.2d 817, 824 (1989). It follows that a “tender in an amount less than the amount due” does not suspend the accrual of interest on the debt. 47 C.J.S. Interest & Usury § 62, at 149 (1982). For these reasons I agree with the majority that the trial court erred in computing the interest inconsistent with section 24-5(a).