Jacobs v. Murray

The question presented is whether a demand note, without express provision for the payment of interest, will bear interest from the date of demand.

The law seems well settled that when an instrument provides for interest, it runs from the date; that where no interest is reserved, interest runs from the date of maturity at the legal rate; that interest on a demand note runs from the time of demand. Interest after maturity or from demand is by way of damages.

The Delaware courts have clearly recognized the principle that interest is a legal incident to the principal sum, existing from the default…