Cite as: 533 U. S. 1 (2001)
Opinion of the Court
judgment interest is to ensure that an injured party is fully compensated for its loss"); West Virginia v. United States, 479 U. S. 305, 310-311, n. 2 (1987); General Motors Corp. v. Devex Corp., 461 U. S. 648, 655-656, n. 10 (1983).
Relying on our cases, the Special Master "concluded that the unliquidated nature of Kansas' money damages does not, in and of itself, bar an award of prejudgment interest." Second Report, § XV, reprinted in App. to Third Report 43. In reaching that conclusion, the Special Master was fully cognizant of both the displaced common-law rule and the subsequent doctrinal evolution. In addition, he gave careful consideration to equitable considerations that might mitigate against an award of interest, concluding that "considerations of fairness," Board of Comm'rs of Jackson Cty. v. United States, 308 U. S. 343, 352 (1939), supported the award of at least some prejudgment interest in this case.
We find no fault in the Special Master's analysis of either our prior cases or the equities of this matter. While we will deal with the amount of prejudgment interest below, to answer Colorado's second objection it is sufficient to conclude that the Special Master was correct in determining that the unliquidated nature of the damages does not preclude an award of prejudgment interest.4
4 Justice O'Connor argues that the state of the law was insufficiently evolved by 1949 for Colorado to have had notice that the courts might award prejudgment interest if it violated its obligations under the Compact. See post, at 21-25 (opinion concurring in part and dissenting in part). Though the law was indeed in flux at that time, this Court had already made it clear that it put no stock in the traditional common-law prohibition, see Funkhouser v. J. B. Preston Co., 290 U. S. 163, 168 (1933), and had stated explicitly that such interest may accrue when "considerations of fairness" demand it, see Board of Comm'rs of Jackson Cty. v. United States, 308 U. S. 343, 352 (1939). The contemporary Restatement of Contracts was in accord. See Restatement of Contracts § 337(b), at 542 ("Where the contract that is broken [is not for a set or easily ascertainable amount of money], interest may be allowed in the discretion of the court, if justice requires it, on the amount that would have been just compensation if it had been paid when performance was
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