O.C.G.A.

O.C.G.A. § 10-7-51 (2019)

Interest on sum recovered as contribution

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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The sum recovered as contribution shall bear interest from the time the original obligation was paid by the surety and shall be deemed and held a liquidated demand.

History

Orig. Code 1863, § 2152; Code 1868, § 2147; Code 1873, § 2174; Code 1882,

§ 2174; Civil Code 1895, § 2993; Civil Code 1910, § 3565; Code 1933, § 103-402.

Annotations

JUDICIAL DECISIONS Partner entitled to interest on contribution award. - Trial court erred in failing to award appellant partner prejudgment interest under O.C.G.A. § 10-7-51 as the judgment was for contribution under O.C.G.A. § 10-7-50 and the law of the case by appellee partner for sums appellant partner paid in excess of that paid by appellee partner since both were equally bound on the same instruments. Murphy v. McCaughey, 262 Ga. App. 570, 586 S.E.2d 16, 2003 Ga. App. LEXIS 829 (2003), cert. denied, No. S03C1809, 2003 Ga. LEXIS 1024 (Ga. Nov. 17, 2003). Interest award reversed. - Award of interest for a client against an attorney from the date that the client satisfied an underlying judgment against the client, the client’s son, and the attorney had no

legal basis and was reversed; it had been established that the client, the son, and the attorney were joint tortfeasors and while O.C.G.A. § 10-7-51 authorized the award of interest running from the date of a co-surety’s payment of a joint obligation, it applied to contribution actions arising from joint instruments executed by the sureties, not to joint tortfeasors; the issue was not controlled by O.C.G.A. § 9-13-78 as it provided a method of enforcing contribution from a joint defendant and it did not purport to control an award of interest and O.C.G.A. § 7-4-12 provided that all money judgments bore post-judgment interest from the date of entry. Gerschick v. Pounds, 281 Ga. App. 531, 636 S.E.2d 663, 2006 Ga. App. LEXIS 940 (2006), cert. denied, No. S07C0191, 2007 Ga. LEXIS 95 (Ga. Jan. 8, 2007).

RESEARCH REFERENCES C.J.S. 72 C.J.S., Principal and Surety, § 225 et seq.

ALR. Rights of one entitled to contribution to recover interest, 27 A.L.R.2d 1268.

Notes of Decisions

Cited in 2 cases, 2003–2006 · leading case: Gerschick v. Pounds, 636 S.E.2d 663 (Ga. Ct. App. 2006).

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Gerschick v. Pounds, 636 S.E.2d 663 (Ga. Ct. App. 2006). · cites it 2× “OCGA § 10-7-51 authorizes the award of interest running from the date of a co-surety’s payment of a joint obligation, but this statute applies to contribution actions arising from joint instruments executed by the sureties.”

Murphy v. McCaughey, 586 S.E.2d 16 (Ga. Ct. App. 2003). · cites it 2× “OCGA § 10-7-51 provides that a “sum recovered as contribution shall bear interest from the time the original obligation was paid by the surety and shall be deemed and held a liquidated demand.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.