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MAYER v. MEDANCIC

Nos. 2008-2363 and 2009-0170.

124 Ohio St.3d 101 (2009)

2009-Ohio-6190

MAYER ET AL., APPELLEES, v. MEDANCIC ET AL., APPELLANTS.

Supreme Court of Ohio.

Decided December 3, 2009.

Attorney(s) appearing for the Case

Gallagher Sharp, Timothy T. Brick, Timothy J. Fitzgerald, and Catherine F. Peters, for appellees.

Joel A. Nash, for appellants.

O'CONNOR, J.

{¶ 1} Pursuant to R.C. 1343.02, interest on written instruments containing stipulations for the payment of interest accrues at the rate specified in the instrument until payment is made. In the case at bar, we determine whether simple or compound interest accrues in the absence of the parties' agreement on this issue. Simple interest is calculated only on principal and not on accumulated interest. Black's Law Dictionary...

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