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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, and then the surplus... "
Higher Book - Page 192
by William Seneca Sutton - 1896
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The New York Supplement, Volume 205

Law reports, digests, etc - 1924 - 1064 pages
...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...interest due and then the surplus is to be applied towards discharging the principal, and interest is to be computed * * * as aforesaid.' The like rule...
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The Pacific Reporter, Volume 221

Law reports, digests, etc - 1924 - 1208 pages
...interest must not be taken to augment the principal; but interest continues on the former principal uütil the period when the payments, taken together, exceed...interest due, and then the surplus is to be applied towards discharging the principal, and interest Is to be computed on the balnnce as aforesaid." However,...
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California Jurisprudence: A Complete Statement of the Law and ..., Volume 20

Law - 1925 - 1150 pages
...statute it is held that if the payment is less than the interest, the surplus of interest must hot be taken to augment the principal, but the interest...when the payments taken together exceed the interest due.3 The code further directs that as between debts of different periods, a payment should be applied...
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A Treatise on the Law of Mortgages of Real Property, Volume 2

Leonard Augustus Jones - Mortgages - 1928 - 1100 pages
...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...to be applied toward discharging the principal, and interest is to be computed on the balance as aforesaid." This is the rule generally adopted in this...
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Reports of Cases Argued and Decided in the Supreme Court of the ..., Book 10

United States. Supreme Court - Law reports, digests, etc - 1883 - 1186 pages
...not be taken to augment the principal ; but interest continues on the former principal un100 I til the period when the payments, taken together* exceed the interest due, and then the surplus ig to be applied towards discharging the principal, and Interest is to be computed on the balance....
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American law reports annotated, Volume 37

1925 - 1624 pages
...less than the interest, the surplus of the interest must not be taken to augment the principal; but interest continues on the former principal until the...interest due, and then the surplus is to be applied towards discharging the principal, and interest is to be computed on the balance as aforesaid." However,...
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Reports of the Tax Court of the United States, Volume 2

United States. Tax Court - Taxation - 1943 - 1330 pages
...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...interest due, and then the surplus is to be applied towards discharging the principal, and interest is to be computed on the balance as aforesaid." This...
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Minnesota Reports: Cases Argued and Determined in the Supreme ..., Volume 63

Minnesota. Supreme Court - Law reports, digests, etc - 1897 - 608 pages
...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...interest due, and then the surplus is to be applied towards discharging the principal; and interest is to be computed on the balance, as aforesaid." This...
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Reports of Cases Argued and Determined in the Supreme Court of ..., Volume 58

Wisconsin. Supreme Court, Abram Daniel Smith, Philip Loring Spooner, Obadiah Milton Conover, Frederic King Conover, Frederick William Arthur, Frederick C. Seibold - Law reports, digests, etc - 1884 - 768 pages
...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...interest due, and then the surplus is to be applied towards discharging the principal, and the interest is to be computed on the balance. 6. Where the...
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Practical Arithmetic, by Induction and Analysis

Joseph Ray - Arithmetic - 1857 - 340 pages
...payment be less than the Int., the surplus of Int. must not be taken to augment the principal, but Int continues on the former principal, until the period when the payments, taken together, exceed the Int. due, and then the surplus is to be applied toward discharging the principal; and Int is to be...
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