A trial court may not refuse to award contractual interest to a prevailing party if the agreement provides for a specific amount, the state Supreme Court has ruled. The justices added that a judge’s refusal to do so after finding the winner delayed litigation was improper.
In so holding, a divided court reversed a split panel of the Superior Court, dismissing the appellate panel’s reasoning that the prevailing party — a hardware wholesale cooperative — had a duty to mitigate its losses but failed to do so.
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