§ 24-3. Time from which interest runs. - North Carolina Statutes

§24‑3.  Time from which interest runs.

Interest is due and payable oninstruments, as follows:

(1)        All bonds, bills,notes, bills of exchange, liquidated and settled accounts shall bear interestfrom the time they become due, provided such liquidated and settled accounts besigned by the debtor, unless it is specially expressed that interest is not toaccrue until a time mentioned in the said  writings or securities.

(2)        All bills, bonds, ornotes payable on demand shall be held and deemed to be due when demandable bythe creditor, and shall bear interest from the time they are demandable, unlessotherwise expressed.

(3)        All securities forthe payment or delivery of specific articles shall bear interest as moneyedcontracts; and the articles shall be rated by the jury at the time they becomedue.

(4)        Bills of exchangedrawn or indorsed in the State, and which have been protested, shall carryinterest, not from the date thereof, but from the time of payment thereinmentioned. (1786, c. 248, P.R.; 1828, c. 2; R.C., c. 13; Code,ss. 44, 45, 46, 47; Rev., s. 1952; C.S., s. 2307.)