(1) Unless otherwise provided in the instrument:
(a) An instrument is not payable with interest; and
(b) Interest on an interest-bearing instrument is payable from the date of the instrument.
(2) Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues.
History.—s. 2, ch. 92-82.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 673 - Uniform Commercial Code: Negotiable Instruments
Part I - General Provisions and Definitions (Ss. 673.1011-673.1191)
673.1041 - Negotiable instrument.
673.1051 - Issue of instrument.
673.1061 - Unconditional promise or order.
673.1071 - Instrument payable in foreign money.
673.1081 - Payable on demand or at definite time.
673.1091 - Payable to bearer or to order.
673.1101 - Identification of person to whom instrument is payable.
673.1131 - Date of instrument.
673.1141 - Contradictory terms of instrument.
673.1151 - Incomplete instrument.
673.1161 - Joint and several liability; contribution.
673.1171 - Other agreements affecting instrument.