Post diem is a Latin phrase that signifies “after the day”. Requesting payment post diem implies asking for payment after the designated payment day.
Post diem is a Latin term meaning “after the day” and is commonly used in legal contexts to describe a plea for payment made after the due date. In the first example, John was unable to pay his rent on the designated day and therefore made a post diem plea to his landlord, requesting an extension. Similarly, Susan received a credit card bill but was unable to make the payment on time. She contacted the company and inquired about the possibility of making a post diem payment. These instances demonstrate how post diem is utilised when individuals are unable to fulfil their debt obligations on the specified due date, prompting them to seek additional time for payment through a post diem plea.
Post diem refers to the Latin term meaning “after the day.” In legal terms, it is used to describe the interest or damages that accrue after a specific date, typically related to a breach of contract or other legal dispute.
Post diem interest is typically calculated based on the agreed-upon interest rate or the statutory rate set by the jurisdiction. It is calculated on a daily basis from the specified date until the debt or damages are fully paid.
Yes, post diem interest can be waived if both parties agree to it in writing. However, it is important to consult with an attorney to ensure that the waiver is valid and enforceable.
Yes, post diem interest can be awarded in a lawsuit if it is specified in the contract or if the court determines it is appropriate based on the circumstances of the case.
Post diem interest may be subject to taxation depending on the jurisdiction and the specific circumstances. It is advisable to consult with a tax professional to determine the tax implications of post diem interest.
Whether post diem interest can be compounded depends on the terms of the contract or the applicable laws. It is important to review the contract or consult with an attorney to determine if compounding is allowed.
Yes, post diem interest can be included in a settlement agreement if both parties agree to it. The terms of the settlement agreement should clearly outline the calculation and payment of post diem interest.
Post diem interest is typically calculated from a specific date forward, but it may be possible to retroactively apply it in certain circumstances. This would depend on the terms of the contract or the court’s discretion.
Post diem interest may be subject to different rules in bankruptcy proceedings. It is advisable to consult with a bankruptcy attorney to understand how post diem interest is treated in your specific situation.
Post diem interest can be challenged or disputed if there are valid grounds to do so, such as a mistake in the calculation or a breach of the contract. It is important to consult with an attorney to assess the merits of the challenge and determine the appropriate course of action.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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