 If the payment exceeds the interest, the surplus goes 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 of interest must not...  Michigan Reports: Cases Decided in the Supreme Court of Michigan - Page 191by Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - 1891Full view - About this book
 | Dominick T. Blake - Civil procedure - 1818 - 706 pages
...the principal, and compute interest upon the balance of principal remaining due, to the next payment. If the payment be less than the interest, the surplus...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... | |
 | Nicolas Pike - Arithmetic - 1822 - 562 pages
...interest is to be computed on the balance of principal remaining due. If the payment be less than tin- interest, the surplus of interest must not be taken to augment the principal; but interest continues on the former principal until the period whett the payments, taken together, exceed... | |
 | Nicolas Pike - Arithmetic - 1822 - 536 pages
...towards discharging the principal, aud the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the MMplus of interest must not be taken to augment the principal ; but interest continues on the former... | |
 | New York (State). Court of Chancery, William Johnson - Equity - 1824 - 748 pages
...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... | |
 | Lyman Cobb - Arithmetic - 1832 - 228 pages
...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...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... | |
 | William Ruger - Arithmetic - 1832 - 282 pages
...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...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... | |
 | Nicolas Pike - Arithmetic - 1832 - 540 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...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... | |
 | Frederick Emerson - Arithmetic - 1834 - 300 pages
...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...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... | |
 | John Preston - Arithmetic - 1834 - 312 pages
...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...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... | |
 | George Willson - Arithmetic - 1836 - 202 pages
...towards discharging the principal, and the subsequent interest is to be computed nn the balance of principal remaining due. If the payment be less than...interest must not be taken to augment the principal; but interest continues on the former mncipal, until the period when the payments taken together t xceed... | |
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