Tennessee Code Annotated
Tenn. Code Ann. § 47-3-112 (2026)
Interest
✓ current as of May 2026
- (a) 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.
- (b) 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.
Acts 1995, ch. 397, § 2.
Notes of Decisions
Cited in 2
cases, 1978–2015 · leading case: Fed. Deposit Ins. Corp. v. Webb, 464 F. Supp. 520 (E.D. Tenn. 1978).
Fed. Deposit Ins. Corp. v. Webb, 464 F. Supp. 520 (E.D. Tenn. 1978). “§ 47-3 — 112(b), (3) a promise or power to maintain or protect collateral or give additional collateral, T.C.A. § 47-3-112(c), (4) a term authorizing confession of judgment if the debt is not paid when due, T.”
Andrea Brichant v. Wells Fargo Bank, N.A., 616 F. App'x 786 (6th Cir. 2015). “” Tenn.Code Ann. § 47-3-112 cmt. 1. 5 . Because Brichant’s claims fail by operation of Tennessee law, we need not delve into Brichant’s argument under Ditto that MERS could not transfer the Deed of Trust because it "was never given an independent interest in the property.”
— Tenn. Code Ann. § 47-3-112(c) — 1 case
Fed. Deposit Ins. Corp. v. Webb, 464 F. Supp. 520 (E.D. Tenn. 1978). “§ 47-3 — 112(b), (3) a promise or power to maintain or protect collateral or give additional collateral, T.C.A. § 47-3-112(c), (4) a term authorizing confession of judgment if the debt is not paid when due, T.”
— Tenn. Code Ann. § 47-3-112(d) — 1 case
Fed. Deposit Ins. Corp. v. Webb, 464 F. Supp. 520 (E.D. Tenn. 1978). “§ 47-3 — 112(b), (3) a promise or power to maintain or protect collateral or give additional collateral, T.C.A. § 47-3-112(c), (4) a term authorizing confession of judgment if the debt is not paid when due, T.”
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