New York Court of Appeals

James O'Brien, Late Sheriff v. John N. Young, Appellants

April 15, 188495 N.Y. 428

Summary

The Court affirmed the order restraining the sheriff from collecting interest at a rate greater than six percent after January 1, 1880, holding that a judgment is not a contract or obligation within the saving clause of the 1879 interest‑rate statute and therefore interest on the judgment is measured by the statutory rate, seven percent before that date and six percent thereafter.