 | D. M. Garret - 1886 - 202 sider
...apply the payment, in the first place, to the discharge of the interest then due. INTEREST. II. — If the payment exceeds the interest, the surplus goes...subsequent interest is to be computed on the balance of the principal remaining due. « III. — If the payment be less than the interest, the surplus of the... | |
 | California. Supreme Court - 1888 - 568 sider
...John. Ch. 13. "The rule for casting interest," he says, "when partial payments have been made, is to apply the payment in the first place to the discharge...subsequent interest is to be computed on the balance of the principal remaining. If the payment be less than the interest, the surplus of interest must not... | |
 | Thomas A. Rice - 1889 - 364 sider
...the discharge of the interest due. 2. If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest...computed on the balance of principal remaining due. 3. If the payment be less than the interest then due, the surplus of interest must not be taken to... | |
 | Henry Stanton Tiffany - 1890 - 96 sider
...20 Per cent. divide by 18 The rule for casting interest, when partial payments have been made, is to apply the payment, in the first place, to the discharge...subsequent interest is to be computed on the balance of the principal remaining due. If the payment is less than the interest, the surplus of interest must... | |
 | John Davison Lawson - 1890 - 944 sider
...held the rule for casting interest, when partial payments have been made, to be, to apply the payments in the first place to the discharge of the interest...subsequent interest is to be computed on the balance of the principal remaining due. If the payments be less than the interest, the surplus of interest must... | |
 | Abraham Clark Freeman - 1891 - 1028 sider
...follows: " When partial payments have been made, apply the payment, in the first place, to the discharging of 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 lees than the interest, the surplus of interest must... | |
 | Jabez Gridley Sutherland - 1893 - 1132 sider
...payments are made on a money demand after maturity, the payment is applied 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 unpaid. If the payment be less than the interest the surplus interest must not be taken... | |
 | Leonard Augustus Jones - 1894 - 1000 sider
...: "When partial payments have been made, apply the payment, in the first place, to the discharging of the interest then due. If the payment exceeds the...and the subsequent interest is to be computed on the 1 United States Mortgage Co. v. Sperry, Mathews v. Toogood, 23 Neb. 536, 37 NW 138 US 313, 11 Sup.... | |
 | Horatio Nelson Robinson - 1895 - 526 sider
...States has decided that : " The rule for casting interest when partial payments have been made is to apply the payment, in the first place, to the discharge...subsequent interest is to be computed on the balance of the principal remaining due. " If the payment is less than the interest the snrplus of interest must... | |
 | William Seneca Sutton - 1896 - 342 sider
...discharge of the interest then due. 2. . " 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. 3. " If the payment be less than the interest, the surplus of interest... | |
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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... 
