(a) Judgments for the payment of money, other than costs, if based upon a contract action, bear interest from the day of the cause of action, at the same rate of interest as stated in the contract; all other judgments shall bear interest at the rate of 7.5 percent per annum, the provisions of Section 8-8-1 to the contrary notwithstanding; provided, that fees allowed a trustee, executor, administrator, or attorney and taxed as a part of the cost of the proceeding shall bear interest at a like rate from the day of entry.

Terms Used In Alabama Code 8-8-10

  • Contract: A legal written agreement that becomes binding when signed.
  • Executor: A male person named in a will to carry out the decedent
  • Trustee: A person or institution holding and administering property in trust.
(b) This section shall apply to all judgments entered on and after September 1, 2011.
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