Legal Memorandum: Award of Prejudgment Interest in TX

Issue: In Texas, when may a court award pre-judgment interest?

The trial court’s finding of fact is binding unless there is no evidence to support it or unless the contrary is established.  TA s "Reliance Ins. Co. v. Denton Cent. Appraisal Dist., 9" c 0Reliance Ins. Co. v. Denton Cent. Appraisal Dist., 999 S.W.2d at 629            (Tex. App.—Fort Worth 1999, no writ).  The award of prejudgment interest has been available in Texas since 1940.  The language contained in the Judgment is consistent with Sections 304.001 and 304.003(c)(2) of the Texas Finance Code (Vernon Supp. 2000).  The trial court has discretion to decide whether prejudgment interest is warranted; however, it does not have discretion to determine the amount.  TA s "Perry Roofing Co. v. Olcott, 722 S.W.2d 538, 544-46 " c 1 l "Perry Roofing Co. v. Olcott, 722 S.W.2d 538 (Tex. App.—Fort Worth 1986, writ granted),aff’d, 744 S.w.2d 929 (Tex. 1988)"Perry Roofing Co. v. Olcott, 722 S.W.2d 538, 544-46 (Tex. App.—Fort Worth 1986, writ granted), aff’d, 744 S.w.2d 929 (Tex. 1988).

In the case of TA s "Corley v. Exxon Pipeline Co., 821 S.W.2d 435, 438 (T" c 1 l "Corley v. Exxon Pipeline Co., 821 S.W.2d 435 (Tex. App.—Houston [14th Dist.] 1992, writ denied)"Corley v. Exxon Pipeline Co., 821 S.W.2d 435, 438 (Tex. App.—Houston [14th Dist.] 1992, writ denied), the appellate court specifically held that the plaintiff’s award of damage caused by the loss of the […]