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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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Practical Arithmetic, by Induction and Analysis

Joseph Ray - Arithmetic - 1857 - 348 pages
...U. States, is regarded THE LEGAL RULE FOR PARTIAL PAYMENTS. li 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...
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Normal Arithmetic: A Text-book, Theoretical and Practical, in Six Parts ...

Silas Lawrence Loomis - Arithmetic - 1859 - 324 pages
...the payments. 290. RULE OF THE SUPREME COURT OF THE UNITED STATES, AND OF THE STATES GENERALLY. I. " The rule for casting interest, when partial payments...place, to the discharge of the interest then due." II. "If the payment exceeds the interest, the surplus goes towards discharging the principal, and the...
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Higher Arithmetic : Or, The Science and Application of Numbers: Combining ...

James Bates Thomson - Arithmetic - 1860 - 446 pages
...for computing the interest adopted by the Supreme Court of the United States, is the following. I. " The rule for casting interest, when partial payments...place, to the discharge of the interest then due. II. " If tJte payment exceeds Ike interest, the surplus goes towards discharging the principal, and...
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The Progressive Higher Arithmetic: For Schools, Academies, and Mercantile ...

Horatio Nelson Robinson - Arithmetic - 1860 - 444 pages
...where partial payments have been made, the Supreme Court of the United States has decided that, I. ''The rule for casting interest when partial payments...place, to the discharge of the interest then due. II. " If the payment exceeds the interest the surplus goes towards discharging the principal, and the...
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Bancroft's California Lawyer and Book of Forms: Containing Instructions for ...

David Price Belknap - Forms (Law) - 1860 - 782 pages
...prescribed in the case of Bacchus v. Minor, 3 Cal., 231, as follows: The rule for casting interest where partial payments have been made, is, to apply 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...
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Mortgages in California: A Practical Essay

James De Fremery - Mortgages - 1860 - 118 pages
...Packard, Admin., October T., 1859. b It may be here stated that the rule for casting interest, where partial payments have been made. is to apply the payment...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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Reports of Cases in Law and Equity, Determined in the Supreme ..., Volume 9

Iowa. Supreme Court - Law reports, digests, etc - 1860 - 688 pages
...John. Ch. 13 ; and is this : " When partial payments have been made, such payments are to be applied, 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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Bryant and Stratton's Commercial Arithmetic: In Two Parts. Designed for the ...

Emerson Elbridge White - Arithmetic (Commercial), 1861 - 1861 - 348 pages
...Supreme Court of the United States, and may therefore be called the TTNITED ST-A-TES RULE. ART. 104. 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 discharging the principal, and the subsequent...
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A Digest of New York Statutes and Reports: From the Earliest ..., Volume 3

Benjamin Vaughan Abbott, Austin Abbott - Law reports, digests, etc - 1864 - 806 pages
...stating the time for which the rate is to be computed, a year is intended. 1 Rev. Stai., 773, 10. 137. 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...
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A Digest of New York Statutes and Reports: From the Earliest ..., Volume 1

Benjamin Vaughan Abbott, Austin Abbott - Law reports, digests, etc - 1864 - 790 pages
...Vt., 26 ; Robinson t>. Doolittle, 12 Id., 246 ; HUlyerz.Vaughau, 1 /. J. ManA., 68*. terest, the rule 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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