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

George Roberts Perkins - Arithmetic - 1855 - 382 pages
...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...
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A Treatise on Arithmetic ...

Noble Heath - Arithmetic - 1846-1880 - 1855 - 468 pages
...following is the legal one, as stated in the NY Chancery Reports, (see Emerson's Third Part, page 104 :) "The rule for casting interest, when partial payments have been made, is to apply the payments, in the first place, to the discharge of the interest then due. If the payment exceeds the...
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Higher Arithmetic; Or, The Science and Application of Numbers: Combining the ...

James Bates Thomson - Arithmetic - 1855 - 436 pages
...United States, is the following. ' L " The rule for casting interest, when partial payments have teen made, is to apply the payment, in the first place, to the dis • charge of the interest then due. ' If. " If the payment exceeds the interest, the surplus goes...
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The Merchants', Students' and Clerks' Manual

James Robinson - Accounting - 1856 - 108 pages
...is given in the language of Chancellor Kent of New York. " The rule for computing interest on notes, when partial payments have been made, is to apply...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...
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The North American Arithmetic: Part Third, for Advanced Scholars

Frederick Emerson - Arithmetic - 1834 - 346 pages
...given in the Chancellor's own words, as follows. " The rule for casting interest, when partial paymenti 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 the subsequent...
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The American Philosophical Arithmetic: Designed for the Use of Advanced ...

John Fair Stoddard - Arithmetic - 1856 - 312 pages
...interest on notes, and other obligations, where partial payments have been made, is as follows : — " Apply the payment, in the first place, to the discharge of the interest then due. If the payment exceed the interest, tht surplus goes towards discharging the principal, and the subsequent...
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A Treatise on Arithmetic: Through which the Entire Science Can be Most ...

Noble Heath - Arithmetic - 1856 - 472 pages
...•' The rule for casting interest, when partial payments have been wade, is to apply the payments, 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...
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The Common-school Arithmetic: Designed for Learners of Every Class; and ...

Pliny Earle Chase - Arithmetic - 1857 - 338 pages
...given in the Key, or study carefully the Court rule, which is thus expressed by Chancellor Kent: — " 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...
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A Theoretical and Practical Arithmetic ...

Daniel Leach - 1857 - 314 pages
...have been endorsed on them : - — RULE. " The rule for casting interest, when partial payments /iave 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 the .subsequent...
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Digest of the Laws of California: Containing All Laws of a General Character ...

William H. R. Wood - Law - 1857 - 834 pages
...interest at the statute rate, or ten per cent. per annum. Id. 5. " The rule for casting interest where .D. Valentine & Son digeharge of the interest then due; if the payment exceeds the interest, the surplus goes towards discharging...
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