Prejudgment Interest applies to Awards for Unjust Enrichment or Quantum Meruit

In a recent case, a jury rendered a verdict in favor of a plaintiff for unjust enrichment. The trial court thereafter awarded prejudgment interest from the date of the jury's verdict. An issue on appeal was whether the prejudgment interest should have been awarded from the date of the plaintiff’s loss instead of the (later) date of the jury’s verdict. The appellate court held that the prejudgment interest should have been from the date of the loss as the record demonstrated when the date of loss occurred. In making this holding, the appellate court explained: A plaintiff is entitled to prejudgment...

11 April

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Prejudgment Interest for Economic Damages is Predicated on the Loss Theory

Posted by David Adelstein

in Trial Perspectives

The purpose of prejudgment interest is to make the plaintiff whole from the date of the loss. Arizona Chemical Co., LLC v. Mohawk Industries, Inc., 197 So.3d 99, 102 (Fla. 1st DCA 2016) (explaining that Florida applies the loss theory as it pertains to prejudgment interest which is simply to make the plaintiff whole and not to penalize the defendant or give the plaintiff a windfall). A prevailing party is entitled to prejudgment interest on damages that have been liquidated. Albanese Popkin Hughes Cove, Inc. v. Scharlin, 141 So.3d 743, 746 (Fla. 3d DCA 2014). Stated differently, “[o]nce liquidated damages have...