 | Emerson Elbridge White - Arithmetic - 1870 - 350 pages
...been made, apply the payment, in the first place, to the discharge of the interest then due. If the payment EXCEEDS the interest, the surplus goes toward...subsequent interest is to be computed on the balance of principal remaining due. If the payment be LESS than tiie interest, the surplus of interest must not... | |
 | Charles W. Langdon - Constables - 1870 - 858 pages
...discharge of the interest then due ; if the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest...computed on the balance of the principal remaining. If the payment be less than the interest, the surplus of interest must not be taken to augment the... | |
 | John Innes Clark Hare - Civil procedure - 1871 - 952 pages
...the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not... | |
 | Calvin Townsend - Commercial law - 1871 - 620 pages
...discharge of the interest then due. 2. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. 3. If the payment be less than the interest, the surplus of interest must... | |
 | John Groesbeck - 1872 - 374 pages
...the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. III. If the payment be less than the interest, the surplus of interest must... | |
 | T. A. Bryce - Business mathematics - 1873 - 370 pages
...the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest...computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus of interest must not be taken to augment the... | |
 | John Groesbeck - Business mathematics - 1873 - 376 pages
...the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. III. If the payment be less than the interest, the surplus of interest must... | |
 | Joseph Ray - 1856 - 400 pages
...of the interest then due; if the payment EXCEEDS '"the Merest, the surplus 'goes toward dischdg'ging the principal, and the subsequent interest is to be computed on the bqlance of principal remaining due. *' "If the payment be LESJS tJxtn the interest, the surplus' of... | |
 | William Johnson - Equity - 1873 - 550 pages
...payment exceeds payments are the interest, the surplus goes towards discharging the prin- made' cipal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not... | |
 | Thomas Foster Withrow, Edward Holcomb Stiles - Law reports, digests, etc - 1875 - 724 pages
...made, such payments are applied, in the first place, to the discharge of the interest then due. If the payment exceeds the interest, the surplus goes toward...discharging the principal, and the subsequent interest should be computed on the principal then remaining due. If the payment be less than the amount 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... 
