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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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Treatise on the Civil and Criminal Jurisdiction of Justices of the Peace and ...

Charles W. Langdon - Constables - 1870 - 858 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...payments, taken together, exceed the interest due. But where an account has been stated by the plaintiff, charging interest both on the debt and the payments,...
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A Complete Arithmetic: Uniting Mental and Written Exercises in a Natural ...

Emerson Elbridge White - Arithmetic - 1870 - 350 pages
...be LESS than tiie 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 tiie interest due, and t)ien the surplus is to be applied toward discharging the principal, and Hie...
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The Crittendon Commercial Arithmetic and Business Manual: Designed for the ...

John Groesbeck - Business mathematics - 1871 - 370 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. Decision...
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A Compendium of Commercial Law: Analytically and Topically Arranged, with ...

Calvin Townsend - Commercial law - 1871 - 620 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 of the principal,...
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American Leading Cases: Being Select Decisions of American Courts ..., Volume 1

John Innes Clark Hare - Civil procedure - 1871 - 952 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...interest due, and then the surplus is to be applied towards discharging the principal ; and interest is to be computed on the balance of principal, as...
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Common School Arithmetic on the Analytic System: With an Appendix of the ...

Shelton Palmer Sanford - Arithmetic - 1872 - 404 pages
...principal, and the 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...then the surplus is to be applied toward discharging tlie principal, and the interest is to be computed on the balance as aforesaid." (6.) COLUMBUS, OA.,...
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Crittenden Commercial Arithmetic ...

John Groesbeck - 1872 - 374 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. Decision...
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The American Commercial Arithmetic: For the Use of the Grand Rapids Business ...

T. A. Bryce - Business mathematics - 1873 - 370 pages
...not be taken to augment the principal, but interest continues on the former principal until the time when the payments, taken together, exceed the interest due, and then the surplus is to be applied towards discharging the principal Partial payments, as the term indicates, are the part payments of...
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The Principles of Arithmetic ...

Joseph Ray - 1856 - 400 pages
...LESJS tJxtn 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 toy&lher exceed the interest due, and then the surplus ~~f. HM RF.vimv. — 325. If a note;'is not...
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The Progressive Higher Arithmetic: For Schools, Academies, and Mercantile ...

Horatio Nelson Robinson - Arithmetic - 1875 - 468 pages
...the interest the surplus of interest must not be taken to augment the principal, but the inte-. rest continues on the former principal until the period...interest due, and then the surplus is to be applied towards discharging the principal, and the interest is to be computed on the balance as aforesaid."...
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