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<h1>Interest when no rate specified: statutory interest accrues from due date until tender, realization, or court-directed date.</h1> When no rate is specified in a negotiable instrument, a statutory rate of interest applies and accrues from the date the amount became payable until tender, realization, or such later date as a Court directs after suit; this statutory interest overrides private agreements, and an indorser dishonoured by non-payment is liable for interest only from receipt of notice of dishonour.