 | John Groesbeck - Arithmetic - 1868 - 350 pages
...apply the payment, in the first place, to the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging...computed on the balance of principal remaining due. III. If the payment be less than the interest, the surplus of interest must not be taken to augment... | |
 | Whitman Peck - Arithmetic - 1868 - 304 pages
...the discharge of the interest then due. If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest...balance of principal remaining due. If the payment is less than the interest, the surplus of the interest must not be taken to augment the .principal,... | |
 | Indiana. Supreme Court, Horace E. Carter, Albert Gallatin Porter, Gordon Tanner, Benjamin Harrison, Michael Crawford Kerr, James Buckley Black, Augustus Newton Martin, Francis Marion Dice, John Worth Kern, John Lewis Griffiths, Sidney Romelee Moon, Charles Frederick Remy - Law reports, digests, etc - 1868 - 622 pages
...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...subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus interest must not... | |
 | Joseph Ray - Arithmetic - 1857 - 358 pages
...payment exceeds the Int., the surplus goes toward discharging the principal, and the subsequent Int. is to be computed on the balance of principal remaining due. " If the payment be less than the -Int., the surplus of Int. must not be taken to augment the principal, but Int. continues on the former... | |
 | George Roberts Perkins - Arithmetic - 1869 - 358 pages
...Court of the United States is as follows : RULE. " The rule for casting interest, when partial payment! have been made, is to apply the payment, in the first...than the interest, the surplus of interest must not bt taken to augment the principal ; but interest continues on the former principal until the period... | |
 | Emerson Elbridge White - Arithmetic - 1870 - 350 pages
...the discharge of the interest then due. If the payment EXCEEDS the interest, the surplus goes toward discharging the principal, and the subsequent interest...principal remaining due. If the payment be LESS than tiie interest, the surplus of interest must not be taken to augment the principal, but interest continues... | |
 | Charles W. Langdon - Constables - 1870 - 858 pages
...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...subsequent interest is to be computed on the balance of the principal remaining. If the payment be less than the interest, the surplus of interest must not... | |
 | Calvin Townsend - Commercial law - 1871 - 620 pages
...the payment, in the first place, to the discharge of the interest then due. 2. If the payment exceeds the interest, the surplus goes towards discharging...computed on the balance of principal remaining due. 3. If the payment be less than the interest, the surplus of interest must not be taken to augment the... | |
 | John Groesbeck - Business mathematics - 1871 - 370 pages
...apply the payment, in the first place, to the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging...principal, and the subsequent interest is to be computed cm the balance of principal remaining due. III. If the payment be less than the interest, the surplus... | |
 | John Groesbeck - 1872 - 374 pages
...apply the payment, in the first place, to the discharge of the interest due. II. If the payment exceeds the interest, the surplus goes towards discharging...computed on the balance of principal remaining due. III. If the payment be less than the interest, the surplus of interest must not be taken to augment... | |
| |
If the payment be less than the interest, the surplus of interest must not be taken to augment the principal ; but interest continues on the former principal until the period when the payments, taken together, exceed the interest due... 
