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interest legal definition
noun
- Ownership of, or other right in, property.
- Legitimate concern with the outcome of a case or controversy, because of a likelihood that the outcome will affect oneÂ’s property rights or other rights or privileges.
- Compensation for making a loan, placing money on deposit, or other use of funds, expressed as a percentage of the principal, calculated and payable on a regular schedule.
compound interest
Interest calculated both on the principal and on previously
accrued interest.
Insurable interest
A legal interest in the safety of property or the health and
wellbeing of another person sufficient to permit the purchase of an insurance
policy.
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interest definition
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