Maine Sample Letter for Motion for Additur or New Trial and Prejudgment Interest
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How to fill out Sample Letter For Motion For Additur Or New Trial And Prejudgment Interest?
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(1). An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within 4 years after the cause of action accrued. By the original lease contract the parties may reduce the period of limitation to not less than one year.
If the judgment does not exceed $30,000, the rate for prejudgment interest is 8%; and [PL 2003, c. 460, §6 (NEW).]
Prejudgment interest is the amount of interest the law provides to a plaintiff to compensate for the loss of the ability to use the funds. If prejudgment interest is awarded, it is computed from the date on which each loss was incurred until the date on which you sign your verdict.
Prejudgment interest accrues from the time of notice of claim setting forth under oath the cause of action, served personally or by registered or certified mail upon the defendant until the date on which an order of judgment is entered.
The interest that a creditor, usually a plaintiff in the case, is entitled to collect, derived from the amount of a judgment, which compensates the creditor for an injury which occurred before the judgment.
A new trial shall not be granted solely on the ground that the damages are inadequate until the defendant has first been given an opportunity to accept an addition to the verdict of such amount as the court judges to be reasonable.
Statutes of Limitations in Maine: At a Glance Injury to PersonSix years, unless based on assault, battery, or false imprisonment, then it's two years (M.R.S.A. Tit. 14 § 752)Injury to Personal PropertySix years (M.R.S.A. Tit. 14 § 752)FraudWithin six years of discovering the fraud (M.R.S.A. Tit. 14 § 859)7 more rows
To calculate your own pre-judgment interest, count the number of days between the 180th day after you notified your defendant of a pending lawsuit or the date you filed the lawsuit, and multiply the number of days by the appropriate rate.
