Texas Civil Practice and Remedies Code 18.031 – Foreign Interest Rate
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Terms Used In Texas Civil Practice and Remedies Code 18.031
- Allegation: something that someone says happened.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
Unless the interest rate of another state or country is alleged and proved, the rate is presumed to be the same as that established by law in this state and interest at that rate may be recovered without allegation or proof.