Section 8-8-8
Interest accrues on breach of contract.
All contracts, express or implied, for the payment of money, or other thing, or for the performance of any act or duty bear interest from the day such money, or thing, estimating it at its money value, should have been paid, or such act, estimating the compensation therefor in money, performed.
(Code 1852, §1520; Code 1867, §1828; Code 1876, §2089; Code 1886, §1751; Code 1896, §2627; Code 1907, §4620; Code 1923, §8564; Code 1940, T. 9, §62.)