Prepayment

“ Surely the time to dictate the conditions of your repayment of a loan—when you propose to pay, how much you propose to pay, or whether you mean to pay at all—is when you are borrowing and not after you have spent the money. ”

“ Everybody who had to make a fixed money payment, such as rent or interest, would have had their payment doubled, for they would have had to produce twice as much to meet their obligations as originally sufficed for that purpose. ”

“ The redemption shall be effected by purchase at the market price. If the market price be above par, it shall be effected by drawings at par.
Art. VI. The service of the Guaranteed Loan shall be conducted by the Treasury of the Public Debt, under the same conditions as the Preference and Unified Debts.
Art. VII. The Commissioners of the Treasury of the Debt shall, fifteen days previous to each payment falling due, furnish us with an account, in a special Report to be published in the 'Journal Officiel,' of the state of the funds assigned to the service of the loan. ”

“ It shall likewise receive the funds for the yearly payment due to the English Government, and representing the interest on the Suez Canal shares.
Insufficient and surplus revenue. Art. III. If the payments of the revenue assigned to the debt be insufficient to meet the half-yearly charges, the special Public Debt Department will demand from the Treasury, through the intermediary of the Minister of Finance, the sum required to complete the half-yearly payments ; the Treasury will have to deliver this sum a fortnight before the payments are due. ”

“ In the ordinary affairs of life, no one stops for refined analysis of the nature of a premium, or considers that the periodic payment universally called 'interest' is in part something wholly distinct ”

“ A dealer who has sold goods, for which he is to be paid in six months, but who desires to receive payment sooner, draws a bill on his debtor payable in six months, and gets the bill discounted by a banker or other money-lender, that is, transfers the bill to him, receiving the amount, minus interest for the time it has still to run. It has become one of the chief functions of bills of exchange to serve as a means by which a debt due from one person can thus be made available for obtaining credit from another. ”

“ But the third section of the act of the third of March, 1865, requires collectors to pay daily into the treasury the gross amount of all duties, taxes, and revenue received or collected in virtue of the internal revenue acts, without any abatement or deduction on account of salary, compensation, fees, costs, charges, expenses, or claims of any description whatever. ”

“ Officers being entitled to halfpay, such as choose to emigrate, should have provisions &c allowed them as above & quarterly notes with interest for three years full pay to commence & be computed from the time they begin their march, in full discharge of all such half pay. As I have already observed that it may be objected depreciations & other payments have been made good; but can a just debt be equitably discharged by certificates of very small comparative value, or depreciated paper money? Certainly no, consequently the States are still bound to make good the deficiency. ”

“ The employer of a workman holds his livret as a pledge. When he receives money in advance, the sum is written in his book, and it is a debt there chargeable as a deduction of not more than one fifth upon all future employment, until it is paid. The workman when travelling must have his livret viséd ”

“ If payment be made by a stranger without the assent of the debtor, it seems uncertain how far English law regards such payment as a satisfaction of the debt. If the debtor ratify the payment, it then undoubtedly becomes a satisfaction. Payment must be made to the creditor or his agent. A bona fide payment to an apparent agent may be good, though he has in fact no authority to receive it. Such payment will usually be good where the authority of the agent has been countermanded without notice to the debtor. ”

“ The two words debt and payment always refer to money. Thus we say we pay a debt, and we perform a contract for the delivery of property, or to do work.
The constitutional provision in question requires that the stock subscribed 'be paid for at the time of such subscription.' Payment must be simultaneous with subscription. In this case, we contend that payment has not yet been made; but if even in this we were wrong, still it does not appear that the payment alleged in the declaration was made 'at the time' of the subscription. ”

“ Any person having claimed payment of an enemy debt which is not admitted in whole or in part shall pay to the Clearing Office, by way of fine, interest at 5 per cent. on the part not admitted. Any person having unduly refused to admit the whole or part of a debt claimed from him shall pay, by way of fine, interest at 5 per cent. ”

“ The last form of temporary loan, that repayable in bulk at a fixed date, is one which, when the sum is of considerable amount, is apt to be attended with serious disadvantages. The repayment may have to be made at a time when a state may not be in a position to meet it, and so to keep faith with its creditors may have to borrow at a higher rate in order to pay their claims. ”

“ Under the wage contract the employer, as the one best prepared to do it, takes the risk as to the future selling price of the product; the worker gets in a definite sum at once the market value of his services. Wage payment, therefore, is a form of insurance to the workingman; he gets something definite instead of taking chances he is ill prepared to take. Wage payment is a form of credit to the laborer whose labor is applied to producing the goods for customers distant in time and in place. ”

“ As regards old-age pay, a purchaser can, by adopting a slightly higher scale of payment, secure the return of his purchase money if at any time before the annuity falls in he repents of his bargain. Further, employers of labour and friendly societies can, on behalf of their workmen or members, make all the payments necessary to buy an insurance or annuity, and recoup themselves out of wages or members’ contributions. ”

“ Number 71, Local Governmental Powers (the “Local Governmental Powers Law”) .
24) “Line items” are the payments specifically itemized in the budget law.
25) “In kind” means a transfer or exchange in which payment takes the form of tangible
property, intangible property, or services rather than cash.
26) “Liability” is a present obligation arising from past events, the settlement of which is
expected to result in a future payment in cash or in kind.
27) “Outlay” means a payment to liquidate an obligation other than borrowing. ”

“ The words, 'pay proper,' we see no reason to think are to be construed differently from the word 'pay.' The term means compensation, pensation, which may properly be described or designated as 'pay,' as distinguished from allowances, commutations for rations, or other methods of compensation, not specifically described as pay. ”

“ Suppose you made purchases of that kind from a man who owed you a certain amount in your books, would these purchases enter your books to his credit, or would they be paid in cash?- That will depend upon our bargain. If a man said to me, I have a cow to sell, and one part of the price I want to go to pay my rent, and the other part I want put into my account, I would do that for him. I have done that frequently, although the man was in my debt. ”

“ Comyns's Digest, Title Agreement, C. So if a man promise payment, without saying to whom, it shall be intended to him from whom the consideration comes. Cro. Eliz. 149. And upon a promise of payment, according to the rate of forty shillings per ton, it shall be intended that payment will be made for the odd pounds, according to the same rate. Yelverton, 134.
The practical construction of both parties has been in conformity to the interpretation on which the defendants insist. ”

“ But before commerce can attain a solid basis, other changes equally important are required, among which new regulations for the recovery of debts is not one of the least. At the present day, no fixed or regular period of payment, can be said to exist. ”

“ And being Strangers and not under our Obedience until they have paid (over and above such Subsidy and Custom, as the said Treasurer and Company, or their Successors, is, or hereafter shall be to pay) ten Pounds per Cent. upon all such Goods likewise carried in and out, any Thing in the said former Letters-patents to the contrary notwithstanding;. And the same SUMS of MONEY and Benefit, aforesaid, for and during the space of one and twenty Years, shall be wholly employed to the Benefit, Use, and Behoof of the said Colony and Plantation ”

“ With respect to payment to a person of more than the correct amount, the Secretary shall decrease any payment under this subchapter to which such overpaid person is entitled, or shall require such overpaid person or his estate to refund the amount in excess of the correct amount, or shall decrease any payment under this subchapter payable to his estate or to any other person on the basis of the wages and self-employment income which were the basis of the payments to such overpaid person, or shall apply any combination of the foregoing. ”

“ When one has incurred a debt for wages due to workmen, clerks, or servants, that debt, within the limits of time and amount prescribed by the act, is entitled to priority of payment. The priority is attached to the debt, and not to the person of the creditor ”

“ And when the time of payment is not anticipated, the law deems the delivery of specific articles a good satisfaction of a money debt, because it will intend them to be more valuable than the money to the creditor who has consented to the arrangement. ”

“ Another view is that the underwriter impliedly undertakes to repay sums which the law may require the assured to pay towards averting losses which would, by the contract, fall upon the underwriter. Expenses voluntarily incurred by the assured with that object are expressly made repayable by the sue and labour clause of the policy. It might well be implied that payments compulsorily required from the assured by law for contributions to G.A., or as salvage for services by salvors, will be undertaken or repaid by the underwriter, the service being for his benefit. ”

“ It is then stipulated that the purchase money, and the costs of the improvements, taxes, assessments, &c., were to be charged on the property, and paid out of the first proceeds of the sales; and that the proceeds, after paying all expenses, charges, improvements, disbursements, &c., should be applied to the repayment of the purchase money until the whole amount be paid. ”

“ The graduated scale of payments, beginning at age twenty-five and ending at thirty-five, together with the prohibition of payment earlier except in case of necessity, shows principal concern for a period of adult life. ”

“ And in order to serve as many as possible in their turn, as well as to make the repayment of the principal borrowed more easy, each borrower shall be obliged to pay, with the yearly interest, one tenth part of the principal and interest, so paid in, shall be again let out to fresh borrowers. ”

“ Paid sometimes by the day, oftener by the week or month, occasionally by the year, and in many branches of production by the piece, the payment of wages by an employer to an employee always implies the previous rendering of labor by the employee for the benefit of the employer, for the few cases in which advance payments are made for personal services are evidently referable either to charity or to guarantee and purchase. ”

“ Always pay; for, first or last, you must pay your entire debt. ”

“ Any purchaser who, within ten years of his purchase, shall by the employment and maintenance of convicts have relieved the public from a charge equal to ten times the purchase-money, will have the money returned, but without interest. ”

“ PAYMENT FOR AN INELIGIBLE GOOD OR SERVICE.—The term ‘payment for an ineligible good or service’ shall include a payment for any good or service that is rejected under any provision of any contract, grant, lease, cooperative agreement, or any other funding mechanism.”. ”

“ But our work and workers are on our hands. Our office expenses are brought down to the most economical figures, and our expenditures in the field are most rigidly confined to the appropriations. If the receipts of this fiscal year are brought up to those of last—the basis of the appropriations—the work will be carried through successfully and without debt. ”

“ The other officially approved arrangement is known as the 'pre-payment plan', and is also explained in Bulletin No. 4. Under this plan virtually the same arrangement as that which we have been using as an example can stand. ”

“ Some associations have a fixed or established premium rate, and under such circumstances loans are awarded to the members in the order of their applications or by lot. The premium may consist of the amount which the borrower pays in excess of the legal interest, or it may consist of a certain number of payments of dues or of interest to be made in advance. ”

“ The term ‘‘debit’’ refers to the net total amount, when positive, by which costs recorded on the PAYGO scorecards for a fiscal year exceed savings recorded on those scorecards for that year. (6) The term ‘‘entitlement law’’ refers to a section of law which provides entitlement authority. (7) The term ‘‘PAYGO legislation’’ or a ‘‘PAYGO Act’’ refers to a bill or joint resolution that affects direct spending or revenue relative to the baseline. ”