Smith v. Fox

McAdam, Ch. J.

Interest upon interest, or compound interest, is not allowable, except in special cases (see authorities collated in 4 Abb. New Dig. 12, §§ 155, 156, 161). The plaintiffs may be allowed simple interest, which on their demand aggregates $487.89, and way credit the defendant with simple interest, which, on his payments, aggregates $250.33, leaving abalance of interest amounting to $237.06 due them. If the plaintiffs do not assent to this, they must follow the rule in regard to the effect of partial payments laid down by the supreme court of the State in a number of cases which…