2 questions re Texas law

[nancy_h_williams]

For Texas law, I need the following answers:
1. What amount is considered legal "Due Consideration"?
2. What is the "Statutory Rate" of interest that can be charged on judicial judgments?
Thank you.

 

[I AM ALWAYS LIABLE]

For Texas law, I need the following answers:
1. What amount is considered legal "Due Consideration"?

ANSWER: I don't understand your question. What is the context of "Due Consideration" and perhaps, I, or someone else can answer for you.

2. What is the "Statutory Rate" of interest that can be charged on judicial judgments?

ANSWER: 10% Interest.

Thank you.

 

[JETX]

There is no 'statutory' ruling of what constitutes 'Due Consideration'. It is generally construed to mean "reasonably equivalent in value to the thing for which it is given".

The judgment interest in Texas is 10% (as stated by IAAL); however, it can be increased or lowered if the cause of action involves a contract that specifies a different interest rate. (For example: if the lawsuit involves a contract that set the interest at 15%, that would be interest rate that the court can set).