What is the legal test for determining pre-judgment interest?
Ontario, Canada
The following excerpt is from Forest City Fire Protection v General Refrigeration Canada, 2015 ONSC 2346 (CanLII):
Unless the provisions regarding interest rates are vague or unclear, or unless the interest rate infringes a statutory provision such as the Interest Act, effect should be given to the contractual rate for the determination of both pre- and post-judgment interest: Capital One Bank v. Matovska, [2007] O.J. No. 3368 (Div. Ct.). In this case, the rate provided for in the contract is neither unclear nor illegal.
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