Interest

In property. The most general term that can be employed to denote # property in lands or chattels. In its application to Jands or things real, it is frequently used in connection with the terms “estate,” “right,” and “title,” and, according to Lord Coke, it properly includes themall.

Co. Litt, 3456.

More particularly it means a right to have the advantage accruing from anything; any right in the nature of property, but Jess than title; a partial or undivided right; a title to a share. The terms “interest” and “title” are not synonymous. A mortgagorin possession, and a purchuser holding under a deed defectively executed, have, both of them, absolute as well as insurable interests in the property, though neither of them has the legal title.

29 Conn. 20.

In the law of evidence. “Interest,” in a statute that no witness shill be excluded by interest in the event of the snit, means “concern,” “advantage,” “good,” “share, “ portion,” “part,” or “participation.” i1 Barb. 471; 11 Mete. (Mass.) 390. A relation to the matter in controversy, or to the issue of the suit, in the nature of a prospective gain or loss, which actually does, or presumably might, create a bias or prejudiea in the mind, inclining the person to favor one side or the other. For money. Interest is the compensation allowed hy law or fixed by the parties for the use or forbearance or detention of money.

Civil Code Cal. § 1915.

Legal interest is the rate of interest established by the law of the country, and which will prevail in the absence of express stipulation; conventional interest is a certain rate agreed upon by the parties.

2 Cal. 563.

Simpie interest is that which is paid for the principal or sum lent, at a certain rate or allowance, made by law or agreement of parthe principal sum, and the whole treated as a new principal, for the calculation of the interest for the next period.