Johnson v. . Johnson

Supreme Court of North Carolina

Johnson v. . Johnson

58 N.C. 167

DecidedDecember 5, 1859

StatusPublished

This text of 58 N.C. 167 (Johnson v. . Johnson) is published on Counsel Stack Legal Research, covering Supreme Court of North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Johnson v. . Johnson, 58 N.C. 167 (N.C. 1859).

Pincite

Opinion

PeaRSON, C. J.

The exceptions filed by the plaintiff raise a question as to the mode of applying credits and calculating interest. We think the principle insisted oil by the plaintiff is the true one. The exceptions are, therefore, allowed and the account must be reformed accordingly. The principle is settled that a payment should be applied to extinguish the interest on the amount of the sum due at the elate of the payment and the residue, if any, be applied in extinguishment of principal.

The report will be reformed according to the opinion by a reference to the clerk.

Pee Curiam, Order to refer the report for correction.

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PeaRSON, C. J.

The exceptions filed by the plaintiff raise a question as to the mode of applying credits and calculating interest. We think the principle insisted oil by the plaintiff is the true one. The exceptions are, therefore, allowed and the account must be reformed accordingly. The principle is settled that a payment should be applied to extinguish the interest on the amount of the sum due at the elate of the payment and the residue, if any, be applied in extinguishment of principal.

The report will be reformed according to the opinion by a reference to the clerk.

Pee Curiam, Order to refer the report for correction.

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Bluebook (online)

58 N.C. 167, Counsel Stack Legal Research, https://law.counselstack.com/opinion/johnson-v-johnson-nc-1859.