Interest day
The term interest day is usually used in two main variants:
- Interest day is the day on which the interest is due (in the sense of " payday ").
- Interest days are the days within a period on which interest is incurred on a loan .
Interest day (payday)
Interest day is a combination of the word " interest " (for eg " levy ", " taxes ", " tribute ", " customs " also for " rent ", " lease " etc.) and " day " in the sense of “Payday” (day on which the payment is due).
After ennoblement , the interest day is a certain day on which certain basic or hereditary interest must be paid.
In the past centuries, the payment was usually due one or two days a year (spring and / or late autumn) in the farming community. Usually on Easter or Walpurgis and Michaelis , Midsummer and St. Martin's Day or Christmas . The interest payment in the farming community consisted regularly in material assets and / or animals. Even today, contracts for agricultural land or properties often begin or end on St. Martin's Day (" Martini "). On this day, the rent (usually annual rent) is usually due.
Today's (limited) understanding of interest as payment for the provision of a money loan only became widespread in the 18th century.
Interest days (period)
Interest days are the days for which interest is payable. These usually start every interest day at midnight and end at midnight. Only whole days are counted or calculated in the interest calculation. A day that has started is regarded as a full interest day.
When calculating the interest days, the 1st day is often not counted. The last day, on the other hand, the repayment time, counts. With other calculation methods this is done the other way round.
The calculation of the interest days ( interest calculation method ) is carried out differently in various Union member states than in the German-speaking EEA member states .
literature
- Antonius Opilio , “ Working Commentary on Liechtenstein Property Law ”, Volume II, 2010, EDITION EUROPA Verlag , ISBN 978-3-901924-23-1 .
Sources and References
- ↑ For the development of the word see also: Gerhard Köbler: Old High German Dictionary, 4th edition 1993, online edition (PDF; 543 kB)
- ↑ After ennoblement , the payday is the day “ on which certain payments or payments have to be made. In masses, the payday is the day in the pay week on which all bills of exchange must be paid. "
