Dean v. Williams
Massachusetts Supreme Judicial Court
This was a suit to foreclose a mortgage. The only question in the case was on the mode of computing the interest due on the note, to secure the payment of which the mortgage was made; and it was agreed by the parties, that if the Court should be of opinion that the amount due was not greater than a certain sum mentioned in the agreement, the plaintiff should discontinue his suit; but if a greater amount was due, the conditional judgment prescribed by the statute, should be…
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This was a suit to foreclose a mortgage. The only question in the case was on the mode of computing the interest due on the note, to secure the payment of which the mortgage was made; and it was agreed by the parties, that if the Court should be of opinion that the amount due was not greater than a certain sum mentioned in the agreement, the plaintiff should discontinue his suit; but if a greater amount was due, the conditional judgment prescribed by the statute, should be entered for the excess, with costs.
1Opinion of the Court
By the Court.
—One of the methods of casting interest where partial payments have been made and endorsed on bonds, notes, or other securities for money, is to calculate the interest from the date of the security, or the time when the interest is to commence, to the time of the first payment endorsed, to add this to the principal, and from the sum to subtract the payment. On this remainder interest is cast to the time of the second endorsement, which is added to the remainder, and from the sum is subtracted the second endorsement. In like manner interest is cast from one payment to another, and…
2Cases cited4 opinions
- Tillotson v. PrestonNew York Supreme Court · 1808
- Stoughton v. LynchNew York Court of Chancery · 1816
- Penrose v. Hart, Pennsylvania Court of Common Pleas, Philadelphia County1788
- Tracy v. WikoffSupreme Court of Pennsylvania · 1785
3Cited by30 opinions
- Blanchard v. CookeMassachusetts Supreme Judicial Court · 1887
- Plunkett v. CommissionerUnited States Board of Tax Appeals · 1940
- Plasko v. OrserMassachusetts Supreme Judicial Court · 1977
- Smith, Twogood & Co. v. Coopers & ClarkeSupreme Court of Iowa · 1859
- McFadden v. FortierIllinois Supreme Court · 1858
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