...States rule, and was laid down by Chancellor Kent as follows: "When partial payments have 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 towards discharging the principal, and the subsequent...

...decision of Chancellor Kent in the case of Connecticut v. Jackson, 1 Johns. Ch. 13, and is as follows: "The rule for casting interest, when partial payments...is to apply the payment, in the first place, to the disciiarge of the interest then due. If the payment exceeds the interest, the surplus goes towards...

...U. States, is regarded THE LEGAL RULE FOR PARTIAL PAYMENTS. " When partial payments have been made, apply the payment, in the first place, to the discharge of the interest then due. " If the payment exceeds the Int., the surplus goes toward discharging the principal, and the subsequent...

...Computation in general. (1849). When partial payments are made, the rule with respect to interest, is to apply the payment in the first place to the discharge of the interest due at the time of the payment. If the payment exceeds the interest, the surplus must be applied to...

...not mentioned in the memorandum. 5. When partial payments have been made, the payment is to apply, in the first place, to the discharge of the interest then due. If the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent...