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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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A Treatise on the Law of Personal Property, Τόμος 1

James Schouler - 1896
...the interest due, not to take the surplus of interest to augment the principal, but cast the interest on the former principal until the period when the payments taken together exceed the interest due.2 This rule is fairer to the lender than the rule of compound interest, and is preferred both in...

The American State Reports: Containing the Cases of General Value ..., Τόμος 56

Abraham Clark Freeman - 1897
...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 due, and then the surplus is to be applied toward discharging the principal; and interest is to be computed on the balance, as aforesaid." This...

The Revised Statutes of the State of Utah in Force Jan. 1, 1898

Utah - 1897 - 1224 σελίδες
...discharging the principal; if the payment be less than the interest, the surplus of the interest due must not be taken to augment the principal, but interest continues on the former principal until tinperiod when the payments token together exceed the interest due. and then the surplus is to be applied...

New Practical Arithmetic

Eugene L. Dubbs - 1901 - 440 σελίδες
...subsequent interest is to be computed on the balance of principal remaining due. If the payment is less than the interest, the surplus of interest must...interest due, and then the surplus is to be applied toward discharging the principal ; and interest is to be computed on the balance as aforesaid. —...

The Commercial Year Book, Τόμος 6

1901
...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,...

Ray's Modern Practical Arithmetic: A Revised Edition of Ray's Practical ...

Joseph Ray - 1903 - 320 σελίδες
...subsequent interest is to be computed on the balance of principal remaining due. "If the payment is less than the interest, the surplus of interest must...interest due, and then the surplus is to be applied toward discharging the principal ; and interest is to be computed on the balance, as aforesaid." —...

The American State Reports: Containing the Cases of General Value ..., Τόμος 96

Abraham Clark Freeman - 1903
...the balance of principal remaining due. If the payment be less than the interest, the surplus of the interest must not be taken to augment the principal;...interest due, and then the surplus is to be applied toward discharging the principal, and interest is to be computed on the balance as aforesaid": Connecticut...

Arithmetic for High Schools, Academies, and Normal Schools

Oscar Lynn Kelso - 1903 - 274 σελίδες
...balance of principal remaining due. If the payment be less than the interest, the surplus of the 226 interest must not be taken to augment the principal...when the payments taken together exceed the interest then due, and then the surplus is to be applied towards discharging the principal ; and the interest...

The New Advanced Arithmetic

John Williston Cook, Nebraska C. Cropsey - 1903 - 327 σελίδες
...principal, and the subsequent interest is to be computed on the balance of principal remaining dueinterest continues on the former principal until the period...interest due, and then the surplus is to be applied toward discharging the principal; and interest is to be computed on the balance as aforesaid. JVote....

Smith's Financial Dictionary

Howard Irving Smith - 1903 - 543 σελίδες
...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,...




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