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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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The Crittendon Commercial Arithmetic and Business Manual: Designed for the ...

John Groesbeck - Business mathematics - 1871 - 370 pages
...Massachusetts, and most of the other States of the Union, and is called THE UNITED STATES RULE. I. The rule for casting interest when partial payments...the first place, to the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging the principal, and...
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A Compendium of Commercial Law: Analytically and Topically Arranged, with ...

Calvin Townsend - Commercial law - 1871 - 620 pages
...Chancellor Kent, of New York, they are thus in that State : 1. When partial payments have been made, apply the payment, in the first place, to the discharge...the payment exceeds the interest, the surplus goes towards discharging the principal, and the subsequent interest is to be computed on the balance of...
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American Leading Cases: Being Select Decisions of American Courts ..., Volume 1

John Innes Clark Hare - Civil procedure - 1871 - 952 pages
...payments have been made," said Chancellor Kent, in Connecticut v. Jackson, I Johnson's Chancery, 13, 17, " 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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Crittenden Commercial Arithmetic ...

John Groesbeck - 1872 - 374 pages
...Massachusetts, and most of the other States of the Union, and is called THE UNITED STATES RULE. I. The rule for casting interest when partial payments...the first place, to the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging the principal, and...
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Common School Arithmetic on the Analytic System: With an Appendix of the ...

Shelton Palmer Sanford - Arithmetic - 1872 - 404 pages
...adopted a method founded on a decision of tha Supreme Court of the United States. UNITED STATES RULE. I. "The rule for casting interest when partial payments...the payment, in the first place, to the discharge of tJie interest then due. II. ulf tJie payment exceeds the interest, the surplus goes toward discharging...
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The American Commercial Arithmetic: For the Use of the Grand Rapids Business ...

T. A. Bryce - Business mathematics - 1873 - 370 pages
...Court of the United States, for casting interest upon bonds, notes, or other obligations, upon wMch partial payments have been made, is to apply the payment,...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 Adjudged in the Court of Chancery of New-York, Volumes 1-7

William Johnson - Equity - 1873 - 550 pages
...Rom. lib. 22. tit. 1. 6.) The rule for casting interest, when partial payments have Rule for castbeen made, is to apply the payment, in the first place, to the ™Jj[e,e ""artial discharge of the interest then due. If the payment exceeds payments are the interest,...
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The Progressive Higher Arithmetic: For Schools, Academies, and Mercantile ...

Horatio Nelson Robinson - Arithmetic - 1875 - 468 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 dischargibg the principal, and the...
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Digest of the Decisions of the Supreme Court of Iowa: From the ..., Volume 2

Thomas Foster Withrow, Edward Holcomb Stiles - Law reports, digests, etc - 1875 - 724 pages
...Gr. 76. 8. In computing interest, when partial payments have been 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...
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Tiffany's Special Agent's and Adjusters' Assistant: Containing Numerous ...

Henry Stanton Tiffany - Fire insurance - 1887 - 466 pages
...Per cent, divide by 3 15 Per cent, divide by 24 18 Per cent, divide by 2 20 Per cent, divide by 18 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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