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The rule for casting interest, when partial payments have been made, is to 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...
Higher Book - Page 192
by William Seneca Sutton - 1896

## An Elementary Arithmetic Serving as an Introduction to the Higher Arithmetic

George Roberts Perkins - Arithmetic - 1850 - 372 pages
...or indorsements,* the rule adopted by the Supreme Court of the United States is as follows : RULE. " The rule for casting interest, when partial payments have been made, is to apply the payment, in thejlrst place, to the discharge of the interest then due. If the payment exceed the interest, the...

## The American Arithmetic: In which the Principles of Numbers are Explained ...

James Robinson (Jr.) - Arithmetic - 1851 - 336 pages
...States, for computing the interest. It is given in the language of Chancellor Kent, of New York. " The rule for casting interest, when partial payments...place, to the discharge of the interest then due. " If the payment exceeds the interest, the surplus goes towards discharging the principal, and the...

## An Elementary Arithmetic Designed for Academies and Schools: Also Serving as ...

George Roberts Perkins - Arithmetic - 1851 - 356 pages
...or indorsements,* the rule adopted by the Supreme Court of the United States is as follows: RULE. " The rule for casting interest, when partial payments...place, to the discharge of the interest then due. If the payment exceed the interest, the surplus goes towards discharging the principal, and the subsequent...

## A Theoretical and Practical Arithmetic: Designed for Common Schools and ...

Daniel Leach - Arithmetic - 1851 - 280 pages
...computing interest on bonds and notes when partial payments have been endorsed on them : — RULE. " The rule for casting interest, when partial payments...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...

## North American Arithmetic: part third

Frederick Emerson - Arithmetic - 1851 - 342 pages
...computed by the above legal rule. " The rule for casting interest, when partial payments have been mode, is to 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...

## Merchants' Magazine and Commercial Review, Volume 27

Commerce - 1852 - 780 pages
...stated by Chancellor Kent, in the case of The State of Connecticut v. Jackson, in which he says : — "The rule for casting interest, when partial payments...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...

## Merchants' Magazine and Commercial Review, Volume 27

Commerce - 1852 - 780 pages
...Jackson, in which he says : — "The rule for casting interest, when partial payments have been made, м to 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 diecharging the principal, and the subsequent...

## Stoddard's Practical Arithmetic

John Fair Stoddard - Arithmetic - 1852 - 324 pages
...on notes, and other obligations, where partial payments have been made, is & follows : — RULE. " Apply the payment, in the first place, to the discharge of the interest then due. ~ If the payment exceed the interest, the surplus gnex towards discharging the principal, and the subsequent...