/stætʃʊtəri ˈɪntrəst/ – Phrase
Definition: 1. xch legal interest;
2. quyền được pháp luật thừa nhận, quyền hợp pháp.
A more thorough explanation: Statutory interest refers to the interest rate that is established by law and is applicable to a particular type of transaction or situation. This interest rate is set by legislation or statute and is typically used to compensate a party for the delay in payment or other financial obligations.
Example: The court ordered the defendant to pay the plaintiff statutory interest on the overdue payment.