Mississippi Rice Growers Association (a.a.l.) v. Illinois Central Railroad Company, and J. F. Pigott, D/B/A Manufacturer's Warehouse Service
U.S. Court of Appeals for the Fifth Circuit
Mississippi Rice Growers Association (a.a.l.) v. Illinois Central Railroad Company, and J. F. Pigott, D/B/A Manufacturer's Warehouse Service, 295 F.2d 681 (5th Cir. 1961)
1961 U.S. App. LEXIS 3321
Mississippi Rice Growers Association (a.a.l.) v. Illinois Central Railroad Company, and J. F. Pigott, D/B/A Manufacturer's Warehouse Service
Opinion
Under the law of Mississippi, interest accrues from the time money is due under a contract. Section 36, Mississippi Code of 1942, Annotated; United Press Association v. McComb Broadcasting Corporation, 1947, 201 Miss. 68, 28 So. 2d 575; 30 So.2d 511; Holcombe v. McClure, 1953, 217 Miss. 617, 64 So.2d 689; Trinidad Asphalt Mfg. Co. v. Gregory, 5 Cir., 1948, 166 F.2d 745, 747, 748.
Paragraphs 3 and 5 of the judgment of the district court are therefore modified so as to include interest at the *682 rate of six per cent per annum on each respective recovery of $2,895.72 from January 1, 1956 until paid. The costs of appeal are taxed against the appellee J. F. Pigott, d/b/a Manufacturer’s Warehouse Service.
Modified and affirmed.
Reference
- Full Case Name
- MISSISSIPPI RICE GROWERS ASSOCIATION (A.A.L.), Appellant, v. ILLINOIS CENTRAL RAILROAD COMPANY, and J. F. Pigott, D/B/A Manufacturer’s Warehouse Service, Appellees
- Status
- Published