 | Thomas A. Rice - Accounting - 1889 - 364 pages
...the discharge of the interest due. 2. If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest...computed on the balance of principal remaining due. 3. If the payment be less than the interest then due, the surplus of interest must not be taken to... | |
 | Henry Stanton Tiffany - Depreciation - 1890 - 96 pages
...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...subsequent interest is to be computed on the balance of the principal remaining due. If the payment is less than the interest, the surplus of interest must... | |
 | John Davison Lawson - Actions and defenses - 1890 - 944 pages
...been made, to be, 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...subsequent interest is to be computed on the balance of the principal remaining due. If the payments be less than the interest, the surplus of interest must... | |
 | Abraham Clark Freeman - Law reports, digests, etc - 1891 - 1028 pages
...have been made, apply the payment, in the first place, to the discharging of the interest then due. If the payment exceeds the interest, the surplus goes...subsequent interest is to be computed on the balance of the principal remaining due. If the payment be lees than the interest, the surplus of interest must... | |
 | Jabez Gridley Sutherland - Damages - 1893 - 1132 pages
...demand after maturity, the payment is applied in the first place to discharge the interest then due; if the payment exceeds the interest the surplus goes...subsequent interest is to be computed on the balance of the principal unpaid. If the payment be less than the interest the surplus interest must not be taken... | |
 | Leonard Augustus Jones - Mortgages - 1894 - 1000 pages
...have been made, apply the payment, in the first place, to the discharging of the interest then due. If the payment exceeds the interest, the surplus goes...and the subsequent interest is to be computed on the 1 United States Mortgage Co. v. Sperry, Mathews v. Toogood, 23 Neb. 536, 37 NW 138 US 313, 11 Sup.... | |
 | Horatio Nelson Robinson - Arithmetic - 1895 - 526 pages
...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...subsequent interest is to be computed on the balance of the principal remaining due. " If the payment is less than the interest the snrplus of interest must... | |
 | John Williston Cook, Nebraska Cropsey - Arithmetic - 1896 - 452 pages
...Itave been made, is to apply the payment, in the /Irst place, to the discharge of the interest t ht- ч due. II. If the payment exceeds the interest the surplus goes towards discharging the principal, and tin- subsequent interest is to be computed on the balance of principal remaining due. III. // the payment... | |
 | William Seneca Sutton - 1896 - 342 pages
...discharge of the interest then due. 2. . " If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of the principal remaining due. 3. " If the payment be less than the interest, the surplus of interest... | |
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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... 
