MCL 438.7 Interpretation
MCL 438.7; MSA 19.4 provides that:
In all actions founded on contracts, express or implied, whenever in the execution thereof any amount in money shall be liquidated or ascertained in favor of either party, by verdict, report of referees, award of arbitrators, or by assessment made by the clerk of the court, or by any other mode of assessment according to law, it shall be lawful . . . to allow and receive interest upon such amount. . . .
In Holland v. Earl G. Graves Pub Co, Inc, 33 F. Supp. 2d 581, 583 (ED Mich, 1998), the court stated:
With respect to interest potentially accruing before the filing of the complaint . . . "generally, Michigan courts have included interest as an element of damages as a matter of right where the amount claimed is liquidated." Jones v. Jackson Nat'l Life Ins Co, 819 F. Supp. 1382, 1383 (WD Mich, 1993) (citing Banish v. City of Hamtramck, 9 Mich App 381, 385; 157 NW2d 445 (1968)).
A claim for damages is defined as being "liquidated" where, as in the case at bar, "the amount thereof is fixed, has been agreed upon, or is capable of ascertainment by mathematical computation or operation of law." . . . . As the Jones court stated, in cases where the amount claimed is liquidated, "interest generally has been allowed from the date when the claim accrued or in other words, 'from the date compensation would have been due had it been paid voluntarily.'" Jones, supra at 1383 (quoting Currie v. Fiting, 375 Mich App 440, 454; 134 NW2d 611 (1965))..