 | 1919 - 832 sider
...the discharge of the interest then due. If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on a balance of principal remaining due. If the payment be less than the interest, the surplus of the... | |
 | Kenneth Farwell Burgess, James A. Lyons - 1921 - 410 sider
...rule is as follows: "When a partial payment is made, apply the payment in the first place to discharge the interest then due. If the payment exceeds the...subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus of the interest... | |
 | 1926 - 1118 sider
...stated the rule as follows: "The rule for casting interest, when partial payments have been made, is to apply the payment, in the first place, to the discharge...computed on the balance of principal remaining due," In 1835 the question came before Chancellor Walworth in New York in Stone v. Seymour, 15 Wend. 19,... | |
 | 1926 - 1086 sider
...stated the rule as follows: "The rule for casting interest, when partial payments have been made, is to apply the payment, in the first place, to the discharge...computed on the balance of principal remaining due." In 1835 the question came before Chancellor Walworth in New York in Stone v. Seymour, 15 Wend. 19,... | |
 | United States. Supreme Court - 1883 - 1186 sider
...the payment, in theflrst place, to the discharge of the interest then due. If the payment exceeds1 the interest, the surplus goes towards discharging...be computed on the balance of principal remaining duo. If the payment is less than the interest, the surplus of interest must not be taken to augment... | |
 | United States. Tax Court - 1943 - 1330 sider
...Massachusetts or the United States rule, and was laid down by Chancellor Kent as follows: "When partial payments have been made, apply the payment in the...subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the Interest, the surplus of interest must... | |
 | Minnesota. Supreme Court - 1897 - 608 sider
...13, and is as follows: "The rule for casting interest, when partial payments have been made, is to apply the payment, in the first place, to the discharge...on the balance of principal remaining due. If the pay-' ment be less than the interest, the surplus of interest must not be taken to augment the principal;... | |
 | Joseph Ray - 1857 - 340 sider
...payment exceeds the Int., the surplus goes toward discharging the principal, and the subsequent Int. is to be computed on the balance of principal remaining due. " If the payment be less than the Int., the surplus of Int. must not be taken to augment the principal, but Int continues on the former... | |
 | United States. Tax Court - 1944 - 1254 sider
...the first place, to the discharge of the interest then due. If the payment exceeds the interest, Ihe surplus goes towards discharging the principal, and...subsequent Interest is to be computed on the balance of the principal remaining due. If the payment be less than the Interest, the surplus of interest must... | |
 | Leonard Augustus Jones - 1928 - 1100 sider
...discharging of the interest then due. If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus of interest must... | |
| |
If the payment be less than the interest, the surplus of interest must not be taken to augment the principal ; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due... 
