A party that fails to raise an issue at trial or on appeal — such as the appropriation of loan repayments to capital rather than interest — will not be permitted to raise it after the appeal has been determined, absent exceptional circumstances. The existence of documentary evidence (such as tax returns) suggesting the issue may have merit does not of itself constitute exceptional circumstances where the respondent would suffer prejudice from the late raising of the issue. A covenant to pay interest on a loan merges on judgment, and the contractual rate does not displace the statutory post-judgment interest rate absent an order under r 1620(1).
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