A California money judgment has $92,000 of principal remaining unpaid. It is not for medical expenses and no special statutory rate applies. What rate applies under Code of Civil Procedure section 685.010(a)(1)?
Correct Answer
D) The statutory judgment rate applies, which California sets at 10%
Section 685.010(a)(1) provides 10% on unsatisfied judgment principal. Subsection (a)(2) provides a 5% rate for specified medical-expense and smaller personal-debt judgments. Those exceptions are excluded here; a private contract need not specify post-judgment interest for the statutory rule to operate. Source: Cal. Code Civ. Proc. § 685.010
Why This Is the Correct Answer
Section 685.010(a)(1) provides 10% on unsatisfied judgment principal. Subsection (a)(2) provides a 5% rate for specified medical-expense and smaller personal-debt judgments. Those exceptions are excluded here; a private contract need not specify post-judgment interest for the statutory rule to operate. Source: Cal. Code Civ. Proc. § 685.010
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