{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.3A-112.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.3A-112.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.3A-112.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.3A-112.html"}],"law_id":81552,"edition_id":1,"section_id":81552,"structure_id":13868,"section_number":"8.3A-112","catch_line":"Interest","history":"Code 1950, \u00a7\u00a7 6-369, 6-420; 1964, c. 219, \u00a7 8.3-118; 1992, c. 693.","full_text":"a\n\nUnless otherwise provided in the instrument, (i) an instrument is not payable with interest, and (ii) interest on an interest-bearing instrument is payable from the date of the instrument.b\n\nInterest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues.","order_by":null,"text":{"0":{"id":292101,"text":"Unless otherwise provided in the instrument, (i) an instrument is not payable with interest, and (ii) interest on an interest-bearing instrument is payable from the date of the instrument.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":292102,"text":"Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a"}},"ancestry":[{"id":13868,"edition_id":1,"name":"General Provisions and Definitions","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13054,"metadata":{},"date_created":"2026-06-26 03:46:08","date_modified":"2026-06-26 03:46:08","permalink":{"id":282707,"object_type":"structure","relational_id":13868,"identifier":"1","token":"8.3A\/1","url":"\/8.3A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13054,"edition_id":1,"name":"Commercial Code \u2014 Negotiable Instruments","identifier":"8.3A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":282705,"object_type":"structure","relational_id":13054,"identifier":"8.3A","token":"8.3A","url":"\/8.3A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":83834,"structure_id":13868,"section_number":"8.3A-101","catch_line":"Short title","url":"\/8.3A-101\/","token":"8.3A\/1\/8.3A-101","metadata":false},{"id":65615,"structure_id":13868,"section_number":"8.3A-102","catch_line":"Subject matter","url":"\/8.3A-102\/","token":"8.3A\/1\/8.3A-102","metadata":false},{"id":77332,"structure_id":13868,"section_number":"8.3A-103","catch_line":"Definitions","url":"\/8.3A-103\/","token":"8.3A\/1\/8.3A-103","metadata":false},{"id":82039,"structure_id":13868,"section_number":"8.3A-104","catch_line":"Negotiable instrument","url":"\/8.3A-104\/","token":"8.3A\/1\/8.3A-104","metadata":false},{"id":71271,"structure_id":13868,"section_number":"8.3A-105","catch_line":"Issue of instrument","url":"\/8.3A-105\/","token":"8.3A\/1\/8.3A-105","metadata":false},{"id":54896,"structure_id":13868,"section_number":"8.3A-106","catch_line":"Unconditional promise or order","url":"\/8.3A-106\/","token":"8.3A\/1\/8.3A-106","metadata":false},{"id":58514,"structure_id":13868,"section_number":"8.3A-107","catch_line":"Instrument payable in foreign money","url":"\/8.3A-107\/","token":"8.3A\/1\/8.3A-107","metadata":false},{"id":60401,"structure_id":13868,"section_number":"8.3A-108","catch_line":"Payable on demand or at definite time","url":"\/8.3A-108\/","token":"8.3A\/1\/8.3A-108","metadata":false},{"id":76428,"structure_id":13868,"section_number":"8.3A-109","catch_line":"Payable to bearer or to order","url":"\/8.3A-109\/","token":"8.3A\/1\/8.3A-109","metadata":false},{"id":79693,"structure_id":13868,"section_number":"8.3A-110","catch_line":"Identification of person to whom instrument is payable","url":"\/8.3A-110\/","token":"8.3A\/1\/8.3A-110","metadata":false},{"id":59225,"structure_id":13868,"section_number":"8.3A-111","catch_line":"Place of payment","url":"\/8.3A-111\/","token":"8.3A\/1\/8.3A-111","metadata":false},{"id":81552,"structure_id":13868,"section_number":"8.3A-112","catch_line":"Interest","url":"\/8.3A-112\/","token":"8.3A\/1\/8.3A-112","metadata":false},{"id":78239,"structure_id":13868,"section_number":"8.3A-113","catch_line":"Date of instrument","url":"\/8.3A-113\/","token":"8.3A\/1\/8.3A-113","metadata":false},{"id":69384,"structure_id":13868,"section_number":"8.3A-114","catch_line":"Contradictory terms of instrument","url":"\/8.3A-114\/","token":"8.3A\/1\/8.3A-114","metadata":false},{"id":87003,"structure_id":13868,"section_number":"8.3A-115","catch_line":"Incomplete instrument","url":"\/8.3A-115\/","token":"8.3A\/1\/8.3A-115","metadata":false},{"id":77257,"structure_id":13868,"section_number":"8.3A-116","catch_line":"Joint and several liability; contribution","url":"\/8.3A-116\/","token":"8.3A\/1\/8.3A-116","metadata":false},{"id":58091,"structure_id":13868,"section_number":"8.3A-117","catch_line":"Other agreements affecting instrument","url":"\/8.3A-117\/","token":"8.3A\/1\/8.3A-117","metadata":false},{"id":84675,"structure_id":13868,"section_number":"8.3A-118","catch_line":"Statute of limitations","url":"\/8.3A-118\/","token":"8.3A\/1\/8.3A-118","metadata":false},{"id":60697,"structure_id":13868,"section_number":"8.3A-118.1","catch_line":"Statute of limitations on deposit accounts and certificates of deposit","url":"\/8.3A-118.1\/","token":"8.3A\/1\/8.3A-118.1","metadata":false},{"id":62088,"structure_id":13868,"section_number":"8.3A-119","catch_line":"Notice of right to defend action","url":"\/8.3A-119\/","token":"8.3A\/1\/8.3A-119","metadata":false}],"previous_section":{"id":59225,"structure_id":13868,"section_number":"8.3A-111","catch_line":"Place of payment","url":"\/8.3A-111\/","token":"8.3A\/1\/8.3A-111","metadata":false},"next_section":{"id":78239,"structure_id":13868,"section_number":"8.3A-113","catch_line":"Date of instrument","url":"\/8.3A-113\/","token":"8.3A\/1\/8.3A-113","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.3A-112\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1964, chapter 219; in 1992, chapter 693.<\/p>","references":[{"id":62070,"section_number":"6.2-301","catch_line":"Legal rate of interest; when legal rate implied","order_by":null,"url":"\/6.2-301\/"},{"id":63842,"section_number":"8.01-382","catch_line":"Verdict, judgment or decree to fix period at which interest begins; final order; judgment or decree for interest","order_by":null,"url":"\/8.01-382\/"}],"refers_to":false,"permalink":{"id":282753,"object_type":"law","relational_id":81552,"identifier":"8.3A-112","token":"8.3A\/1\/8.3A-112","url":"\/8.3A-112\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.3A-112\/","token":"8.3A\/1\/8.3A-112","dublin_core":{"Title":"Interest","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.3A-112","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Unless otherwise provided in the instrument, (i) an instrument is not payable with interest, and (ii) interest on an interest-bearing instrument is payable from the date of the instrument. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment<\/span> rate in effect at the place of payment of the instrument and at the time interest first accrues. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINTEREST (\u00a7 8.3A-112)\n\na. Unless otherwise provided in the instrument, (i) an instrument is not payable\nwith interest, and (ii) interest on an interest-bearing instrument is payable\nfrom the date of the instrument.\n\nb. Interest may be stated in an instrument as a fixed or variable amount of\nmoney, or it may be expressed as a fixed or variable rate or rates. The amount\nor rate of interest may be stated or described in the instrument in any manner\nand may require reference to information not contained in the instrument. If an\ninstrument provides for interest, but the amount of interest payable cannot be\nascertained from the description, interest is payable at the judgment rate in\neffect at the place of payment of the instrument and at the time interest first\naccrues.\n\nHISTORY: Code 1950, \u00a7\u00a7 6-369, 6-420; 1964, c. 219, \u00a7 8.3-118; 1992, c. 693.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}