 | George Soulé - Business mathematics - 1910 - 1042 pages
...the United States, as also by several other States, is hence termed tbe United States System. I.— The rule for casting interest when partial payments have been made, is to apply the payment, in tbe first place, to the discharge of the interest due. II. — If the payment exceeds the interest,... | |
 | Oregon. Supreme Court, William Wallace Thayer, Joseph Gardner Wilson, Thomas Benton Odeneal, Julius Augustus Stratton, William Henry Holmes, Reuben S. Strahan, George Henry Burnett, Robert Graves Morrow, James W. Crawford, Frank A. Turner, Bellinger, Charles Byron - Law reports, digests, etc - 1917 - 830 pages
...rule. 2. The formula prescribed by Chancellor Kent reads thus: "The rule for casting interest, where partial payments have been made, is to apply the payment,...the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of principal... | |
 | William Mark McKinney, Burdett Alberto Rich - Law - 1918 - 1564 pages
...Payments; Account Due. — In applying partial payments to an interest bearing debt which is due, the rule is to apply the payment, in the first place, to the discharge of the interest then due.3 If the payment exceeds the interest, the surplus goes toward discharging the principal,* and... | |
 | 1919 - 832 pages
...defendants.— Holtz v. Olds, 84 Or. 567, 164 Рас. 583, 1184. 5. The rule for casting interest, where partial payments have been made, is to apply the payment,...the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on a balance of principal... | |
 | Law reports, digests, etc - 1919 - 1092 pages
...payments are so made, the rule commonly known as the United States rule is generally applied. That rule is to apply the payment, in the first place, to the...the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of principal... | |
 | Law reports, digests, etc - 1923 - 1210 pages
...rule announced In 22 Cyc. 1564: "Where partial payments are made the rule is to apply the payments in the first place to the discharge of the interest then due." AB to the other four notes, which provided for the payment of 8 per cent, per annum from date until... | |
 | North Dakota. Supreme Court, Hiram A. Libby, Robert Milligan Carothers, Robert Dimon Hoskins, Edgar Whittlesey Camp, John McDowell Cochrane, Ames Francis Wilbur, Joseph Coghlan, Edwin James Taylor - Court rules - 1921 - 758 pages
...payments are so made, the rule commonly known as the United States rule is generally applied. That rule is to apply the payment, in the first place, to the...the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of principal... | |
 | United States. Supreme Court - Law reports, digests, etc - 1883 - 1186 pages
...sufficient, see note to Moore v. Bank of Metropolis, ante,, 302. Intercut, the rule ofcalcvlatttmof. The rule for casting interest, when partial payments have been made, is to apply the payment, in theflrst place, to the discharge of the interest then due. If the payment exceeds1 the interest, the... | |
 | Minnesota. Supreme Court - Law reports, digests, etc - 1897 - 608 pages
...decision of Chancellor Kent in the case of Connecticut v. Jackson, 1 Johns. Ch. 13, and is as follows: "The rule for casting interest, when partial payments...is to apply the payment, in the first place, to the disciiarge of the interest then due. If the payment exceeds the interest, the surplus goes towards... | |
 | United States. Tax Court - Law reports, digests, etc - 1944 - 1254 pages
...States rule, and was laid down by Chancellor Kent as follows: "When partial payments have been made, apply the payment in the first place, to the discharge...interest then due. If the payment exceeds the interest, Ihe surplus goes towards discharging the principal, and the subsequent Interest is to be computed on... | |
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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 principal remaining due. If the payment be less than the interest, the surplus... 
