==========Case Id=====================
7011
==========Plaintiff's Claim===========
1.The defendant B shall return the plaintiff's loan of $30,000 and pay the overdue interest at the interest rate of 2.4% per month from the date of prosecution to the date of repayment. 2. The defendant B shall pay the litigation costs of this case.
==========Fact Description============
After the hearing, the court held the facts as follows: On December 11, 2013, the defendant B borrowed $30,000 from the plaintiff A. The defendant B received the loan and gave a receipt of this loan. Note: I have borrowed $30,000 from A today.
==========Court's View================
The court concluded that: the lending agreement between the plaintiff A and the defendant B contains the true meaning and does not violate the prohibitive provisions of state laws and regulations, it is legal and valid. Although the plaintiff and the defendant did not specifically agree on the time for repayment, after the defendant received the loan, it shall be returned within a reasonable period after being appealed by the plaintiff. If the defendant fails to return it within a reasonable period after being called, the defendant shall be responsible to pay the overdue interest from the date of prosecution.  For the calculation standard for overdue interest, the plaintiff claimed that the monthly interest rate was 2.4%, but it did not provide a corresponding evidence. Therefore, the court does not support this claim of overdue interest. With reference to the loan interest rate announced by the People's Bank of China for the same period, the court determined that overdue interest is calculated at an annual interest rate of 5.6%. The fact that the defendant has not returned the loan of $30,000 is clear. So the court supports the reasonable part of the plaintiff ’s claim requesting the defendant to return the loan and pay the overdue interest. Defendant B refused to appear in court without justification after being legally summoned by the court.
==========Judgment Annotation=========
0
