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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... "
Burgess' Commercial Law: A Text Book for All Classes of Schools and Colleges ... - Page 163
by Kenneth Farwell Burgess, James A. Lyons - 1921 - 392 pages
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A new and complete system of arithmetick: composed for the use of the ...

Nicolas Pike - Arithmetic - 1822 - 532 pages
...partial payments hare kern mailf1, is to apply the payment, in the first place, to the dinebarge of the interest then due. If the payment exceeds the...the surplus goes towards discharging the principal, aud the subsequent interest is to be computed on the balance of principal remaining due. If the payment...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike, Chester Dewey - Arithmetic - 1822 - 532 pages
...partial payments have iiertj made, is ID apply the payment, in the firct place, to the disrharge of the interest then due. If the payment exceeds the interest, the surplus goes to wan!? discharging the principal . and the subsequent interest is to be computed on the balance of...
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The office and duties of masters in chancery and practice in the master's ...

Murray Hoffman - Equity pleading and procedure - 1824 - 437 pages
...applied in discharge of the interest then due. If tho payment exceeds the interest, the surplus goei towards discharging the principal, and the subsequent interest is to be computed on the balance of principal due. If the payment be IB-IS than the interest, the surplus interest. must not be taken to...
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Reports of cases adjudged in the Court of Chancery of New-York: containing ...

New York (State). Court of Chancery, William Johnson, New York (State), New York (State). Court for the Trial of Impeachments and the Correction of Errors - Equity - 1824
...towards 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 interest must not be added to the principal ; but the interest continues on the former principal, until...
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A new system of arithmetick: in which the rules are familiarly demonstrated ...

William Ruger - Arithmetic - 1832 - 263 pages
...where 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...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the Interest, the surplus of Interest must not...
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A New and Complete System of Arithmetick: Composed for the Use of the ...

Nicolas Pike, Chester Dewey - Arithmetic - 1832 - 528 pages
...goes toward discharging the principal, and the subsequent isterest is to be computed on the balance of principal remaining due. 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...
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Cobb's explanatory arithmetick, number two: containing the compound rules ...

Lyman Cobb - Mathematics - 1835 - 216 pages
...where 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 toward discharging the principal, and the subsequent interest is to be computed on the balance of principal...
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The North American arithmetic: Part third, for advanced scholars, Part 3

Frederick Emerson - Arithmetic - 1834 - 288 pages
...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...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not...
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Every Man His Own Teacher: Being an Introduction to Arithmetic, Whereby ...

John Preston - Arithmetic - 1834 - 297 pages
...JACKSON. When part payments have been made, apply the payment in the first place, to the discharge of the interest then due. If the payment exceeds the...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not...
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Reports of Cases Argued and Determined in the Supreme Court of ..., Volume 3

Indiana. Supreme Court, Isaac Newton Blackford - Law reports, digests, etc - 1836
...where 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...subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not...
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