 | Nathan Dane - 1829 - 982 σελίδες
...of interest due at the time of payment; but is not to be used when the interest exceeds the payment, for the effect in such case would be to give compound interest, which the law does not allow.' In fact, the plain rule is to avoid usury, never to compute interest so as to increase the principal... | |
 | Nathan Dane - 1829 - 956 σελίδες
...made. 1. Every payment is to be applied to keep down the interest : 2. The interest is never to be allowed to form a part of the principal, so as to carry interest. Hence, the rule is to cast interest from the time it commenced to the time of the first payment endorsed,... | |
 | William Ruger - 1832 - 282 σελίδες
...when a payment is made; and that the payment first goes to discharge the interest, and then to reduce the principal; but interest is never allowed to form...EXAMPLES. 1. Suppose a note was given on demand for §1000, dated Feb. 1, 1825, on which were the following endorsements. 1 . April 1, 1826, Received,... | |
 | William Ruger - 1836 - 274 σελίδες
...when a payment is made ; and that the payment first goes to discharge the interest, and then to reduce the principal-; but interest is never allowed to form...interest exceeds the payment, interest is continued ou the same principal, till the amount 'of the payments exceed the interest. •• EXAMPLES. 1. Suppose... | |
 | John Bouvier - 1843 - 752 σελίδες
...partial payments have been made, every payment is to be first applied to keep down the interest, but the interest is never allowed to form a part of the principal, so as to carry interest. 17 Mass. R. 417; 1 D'all. 378. — 2. When a partial payment exceeds the amount of interest due when... | |
 | George Nixon Comer - 1846 - 122 σελίδες
...following rule has been adopted, by which every payment is first applied to keep down the interest; but the interest is never allowed to form a part of the principal, so as to carry interest. In casting interest upon Bonds, Notes, &c., upon which partial pay. ments have been made, every payment... | |
 | George Nixon Comer - 1847 - 124 σελίδες
...rule has been adopted, by which every payment is first applied to keep down the interest ; but the interest is never allowed to form a part of the principal, so as to carry interest. Compute the interest on the principal sum, from the time when the interest commenced to the first time... | |
 | Isaac Ridler Butts - 1849 - 118 σελίδες
...partial payments have been made, every payment is to be first applied to keep down the interest ; but the interest is never allowed to form a part of the principal,...give compound interest, which the law does not allow. To avoid this, the following rule has been adopted : — Compute the interest on the principal sum,... | |
 | George Nixon Comer - 1850 - 126 σελίδες
...by which every payment is first applied to keep down the interest ; but the interest is never (Mowed to form, a part of the "principal, so as to carry interest. Compute the interest on the principal sum, from the time when the interest commenced to the first time... | |
 | Horace Mann - 1851 - 384 σελίδες
...payments have been made, every payment is to be first appropriated to keep down the interest ; but the interest is never allowed to form a part of the principal, so as to carry interest. 27 Mass. R. 417; 1 Dall. 378. " When a partial payment exceeds the amount of interest due when it is... | |
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In casting interest upon bonds, notes, &.c., upon which partial payments have been made, every payment is to be first applied to keep down the interest ; but the interest is never allowed to form a part of the principal, so as to carry interest, for the... 
