Riney v. Hill
Supreme Court of Missouri
APPEAL from Clark Circuit court. 1. The rule of the law in the computation of interest where partial payment have been made, is. that interest shall be cast on the principal debt to the first payment, add the interest thus produced to the principal and from their aggregate amount deduct the partial payment— then on the remainder (provided the payment was sufficient to discharge the previously accrued interest) cast interest to the second partial payment, add and deduct as…
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APPEAL from Clark Circuit court. 1. The rule of the law in the computation of interest where partial payment have been made, is. that interest shall be cast on the principal debt to the first payment, add the interest thus produced to the principal and from their aggregate amount deduct the partial payment— then on the remainder (provided the payment was sufficient to discharge the previously accrued interest) cast interest to the second partial payment, add and deduct as before, and so on from payment down to the day of the rendition of the judgment: Penrose vs. Hart, 1st Dal. Bep., 378;…
1Opinion of the CourtBirch, J.
This was a submission, without action, under the twentieth article of the new practice act, the facts agreed upon being substantially as follows:
On the 7th day of April, 1837, one John Hill, since deceased, sealed and delivered to the plaintiff his bond, binding himself to pay him, on or before the 1st day of April, 1838, the sum of eleven hundred dollars, together with ten per centum interest thereon from due, if not paid at maturity. Before any part of the money was paid, John Hill died intestate, and Robert E. Hill, the defendant and appellee, was appointed his administrator. On the 10th…
2Cited by11 opinions
- Cruce v. CruceSupreme Court of Missouri · 1884
- Baker v. J. W. McMurry Contracting Co.Supreme Court of Missouri · 1920
- Brandtjen & Kluge, Inc. v. HunterMissouri Court of Appeals · 1940
- Pullis v. SomervilleSupreme Court of Missouri · 1909
- Call v. MollMissouri Court of Appeals · 1901
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