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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 of interest must not... "
An historical treatise on the practice of the Court of Chancery of the State ... - Σελίδα 265
των Dominick T. Blake - 1818 - 650 σελίδες
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Rights, Remedies, and Practice, at Law, in Equity, and Under the ..., Τόμος 5

John Davison Lawson - 1890
...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...on the former principal until the period when the payment*, taken together, exceed the interest due; and then the surplus is to be applied towards discharging...

Tiffany's Digest of Depreciations, with the Addition of Numerous Tables ...

Henry Stanton Tiffany - 1890 - 76 σελίδες
...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...to augment the principal; but interest continues on former principal until the period when the payments, taken together, exceed the interest due, and then...

The Northwestern Reporter, Τόμος 46

1891
...principal, and the subséquent interest ia to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus...interest must not be taken to augment the principal, but the Interest continues on the former principal until the period when the payments, taken together,...

The American State Reports: Containing the Cases of General Value ..., Τόμος 21

Abraham Clark Freeman - 1891
...principal, and the 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 be taken to augment the principal, but the interest continues on the former principal until the period when the payments, taken together,...

The American State Reports: Containing the Cases of General Value ..., Τόμος 21

Abraham Clark Freeman - 1891
...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 not be taken to augment the principal, but the interest continues on the former principal until the period when the payments, taken together,...

A Treatise of the Law of Damages: Embracing an Elemantary ..., Τόμος 1

Jabez Gridley Sutherland - 1893
...computed on the balance of the principal unpaid. If the payment be less than the interest the surplus interest must not be taken to augment the principal ; but interest continues on the principal until sufficient payments are made to extinguish the interest to that date. If there be a...

Teachers' Manual for Teachers Using Arithmetic by Grades

John Tilden Prince - 1894
...Court, and is therefore called the United States rule. One feature of this rule provides that, "if any payment be less than the interest, the surplus of...interest due, and then the surplus is to be applied toward discharging the principal." Tell this to the pupils, and show how it would be applied in 7 if...

A Treatise on the Law of Mortgages of Real Property, Τόμος 1

Leonard Augustus Jones - 1894
...19 NW Rep. 780; See, also, Leonard c. Villars, 23 11l. 377. balance of the principal remaining due. If the payment be less than the interest, the surplus...interest must not be taken to augment the principal, but the interest continues on the former principal until the period when the payments, taken together,...

Robinson's New Higher Arithmetic: For High Schools, Academies, and ...

Horatio Nelson Robinson - 1895 - 506 σελίδες
...less than the interest the snrplus of interest must not be taken to augment the principal, but the interest continues on the former principal until the...interest due, and then the surplus is to be applied toward discharging the principal, and the interest is to be computed on the balance as aforesaid."...

Higher Book

William Seneca Sutton - 1896
...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...interest must not be taken to augment the principal, but the interest continues on the former principal until the period when the payments, taken together,...




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