 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 192by William Seneca Sutton - 1896Full view - About this book
 | 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,... | |
 | 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... | |
 | 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... | |
 | 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,... | |
 | John Innes Clark Hare, Horace Binney Wallace, John William Wallace - Commercial law - 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... | |
 | Shelton P. Sanford - Arithmetic - 1872 - 402 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.,... | |
 | 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... | |
 | 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... | |
 | Joseph Ray - 1856 - 402 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... | |
 | 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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