§478-7  Compound, not recoverable.  No
action shall be maintainable in any court of the State to recover compound
interest upon any consumer credit transaction or upon any credit card agreement
whatever. [CC 1859, §1484; RL 1925, §3590; RL 1935, §7056; RL 1945, §8737; RL
1955, §191-7; HRS §478-7; am L 1986, c 137, pt of §1]



 



Case Notes



 



  Notes given to cover accumulated compound interest held to be
not void.  8 H. 614.



  Interest upon interest may be contracted for.  8 H. 742; 30
H. 359, 379.  See 31 H. 958; 36 H. 571, 596.



  This section states common law rule.  8 H. 742.



  Effect of express promise to pay interest at a specified
time.  36 H. 571, 598.