Article 2. Interest as Damages - California Civil Code Section 3289

3289.  (a) Any legal rate of interest stipulated by a contract
remains chargeable after a breach thereof, as before, until the
contract is superseded by a verdict or other new obligation.
   (b) If a contract entered into after January 1, 1986, does not
stipulate a legal rate of interest, the obligation shall bear
interest at a rate of 10 percent per annum after a breach.
   For the purposes of this subdivision, the term contract shall not
include a note secured by a deed of trust on real property.

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Last modified: February 16, 2015