Interest Rates

The General Contractor (or Subcontractor) Didn’t Pay My Company—What Interest Rate Applies?

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com A general contractor or subcontractor hires your company to do work on a construction project. Your company provides the goods, services, and other work requested and sends an invoice. Weeks pass, and no payment comes. You call about payment, but no payment comes. You send letters, emails, and all kinds of communications, …

The General Contractor (or Subcontractor) Didn’t Pay My Company—What Interest Rate Applies? Read More »

When Not Stated, What Interest Rate Applies to Contracts in Utah?

Joseph G. Ballstaedt 801.365.1021 joe@snjlegal.com The answer to this question is quite simple. Under Utah law, people who enter a contract can agree to any interest rate they want, but if they do not agree to a specific rate, the default rate under Utah law is ten percent (10%) per annum. As explained below, this rate …

When Not Stated, What Interest Rate Applies to Contracts in Utah? Read More »

Unfair Interest Rates May be Legal in Utah, but an Attorney Can Help

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com Utah judges aren’t your parents. If you enter a contract that is unfair or unwise, a judge probably won’t come sweep in and save you from the consequences of the agreement. It has long been the law in Utah that you have “freedom to contract.” You are free to enter a contract, reject a …

Unfair Interest Rates May be Legal in Utah, but an Attorney Can Help Read More »

Scroll to Top