Repayment

“ 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. ”

“ If a man were, in return for money lent, as though there had been an agreement tacit or expressed, to expect or exact repayment in the shape of some remuneration of service or words, it would be the same as if he expected or exacted some real remuneration, because both can be priced at a money value, as may be seen in the case of those who offer for hire the labor which they exercise by work or by tongue. ”

“ 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. ”

“ A bank, indeed, which lends its money without the expense of stamped paper, or of attorneys’ fees for drawing bonds and mortgages, and which accepts of repayment upon the easy terms of the banking companies of Scotland, would, no doubt, be a very convenient creditor to such traders and undertakers. ”

“ Travelers’ Credits issued either against cash deposited or satisfactory guarantee of repayment: In Dollars for use in the United States and adjacent countries; or in Pounds Sterling for use in any part of the world. Applications for credits may be addressed as above direct, or through any first-class Bank or Banker. ”

“ Therefore it is lawful to accept repayment by loan in return for a loan granted.
Objection 5: Further, the lender, by transferring his ownership of a sum of money removes the money further from himself than he who entrusts it to a merchant or craftsman. Now it is lawful to receive interest for money entrusted to a merchant or craftsman. Therefore it is also lawful to receive interest for money lent.
Objection 6: Further, a man may accept a pledge for money lent, the use of which pledge he might sell for a price: as when a man mortgages his land or the house wherein he dwells. ”

“ The custom of keeping the spare cash reserved for immediate use or against contingent demands, in the hands of a banker, and making all payments, except small ones, by orders on bankers, is in this country spreading to a continually larger portion of the public. If the person making the payment, and the person receiving it, keep their money with the same banker, the payment takes place without any intervention of money, by the mere transfer of its amount in the banker's books from the credit of the payer to that of the receiver. ”

“ 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 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 ”

“ 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. ”

“ 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. ”

“ 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. ”

“ 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. ”

“ 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 ”

“ They present situations in which payments have been made in a context with business overtones-an employer making a payment to a retiring employee; a businessman giving something of value to another businessman who has been of advantage to him in his business. ”

“ The British Government, from the time of the completion of the line, and so long as it shall continue in working [Pg 83] order, undertakes to pay at the rate of fourteen thousand pounds a year, being at the rate of four per cent. on the assumed capital, as a fixed remuneration for the work done on behalf of the Government, in the conveyance outward and homeward of their messages. This payment to continue until the net profits of the Company are equal to a dividend of six per cent., when the payment shall be reduced to ten thousand pounds a year, for a period of twenty-five years. ”

“ When you shall return to your Country with a good Character, you cannot fail of getting into some Business, that will in time enable you to pay all your Debts. In that Case, when you meet with another honest Man in similar Distress, you must pay me by lending this Sum to him; enjoining him to discharge the Debt by a like operation, when he shall be able, and shall meet with another opportunity. ”

“ 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. ”

“ 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. ”

“ 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 ”

“ It is a present payment for an accident happening to a man, and he just gets the money, and there is no more about it; but it might happen occasionally that he applied it towards payment of a debt.
14,366. The premium or subscription of 3s. universally passes into the man's account?-Yes.
14,367. I cannot quite see why the payment of a policy should not also go into the man's account if he has one?-It is only when a man is wrecked that such it payment is to be made. ”

“ 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. ”

“ 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 percent 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 percent on the amount with regard to which his refusal shall be disallowed. ”

“ Art. II. The officials, the local Treasuries, or the special Administrations, after collecting, receiving, or accumulating Hypothecated revenues to be paid to Caisse the revenues specially devoted to the payment of the debt, are revenues to be in future charged to pay them into the Central Treasury or to keep them at the disposal of the Intendants of Public Expenditure [81] ('Ordonnateurs des Depenses de l'État') . ”

“ 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. ”

“ 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. ”

“ And be it further enacted, That such of the creditors of the United States, as have not subscribed, and shall not subscribe to the said loan, shall, nevertheless, receive, during the year one thousand seven hundred and ninety-six, a rate per centum on the amount of such of their demands as have been registered, or as shall be registered at the treasury, conformably to the directions in the act,Ante, p. 138. intituled “An act making provision for the debt of the United States,” equal to the interest which would be payable to them as subscribing creditors. ”

“ Have you ever been asked by any merchant to undertake the debt due to him by any man whom you employed?-I have never been asked by the merchant, but I have been asked by the men for a little money to clear off their account with another merchant when I engaged them. ”

“ Made a mutual pledge to clear the church debt by the October of this year.
Our debt-paying must not be indefinitely de layed. Let every body make up his mind to pay his portion within the specified time. Suppose you give up your European restaurant for ten months; that will help you to pay half your portion. Suppose you go with your old jacket and pants until the next year; that will enable you to fill up your share of the common burden. The net income of each of us was twenty-five dollars a month, and we were to pay a whole month s salary by the October next. ”

“ May sell the goods in case of non-payment of monies so advanced And in the event of the non-payment of such bill or note or debt when due, such Bank or private person may sell the said cereal grains, goods, wares or merchandize, and retain the proceeds or so much thereof as will be equal to the amount due to the Bank or private person upon such bill or note or debt, with any interest or costs, returning the overplus, if any, to such indorser. ”

“ Substantial import of the third question is whether the complainants are liable under the internal revenue acts to pay a duty of one-twenty-fourth of one per cent. per month on the average amount of money which they receive and invest or loan, as described in the statement of facts exhibited in the record.
Their powers are set forth in their charter and the other acts of the legislature to which reference has been made. ”

“ All other payments were made in bonds bearing interest at eight per cent. per annum till redeemed. Strenuous reductions were made in the public expenditure, the utmost care was exercised over the collections, and in twelve months' time enough cash had been accumulated to pay off the whole of the new paper debt, besides meeting the ordinary expenses of government. ”

“ Twenty per cent. additional pay is allowed by the joint resolution of the twenty-eighth of February, 1867, to certain persons or classes of persons therein described, who are employed in the civil service of the United States in this city, whose salaries, as fixed by law, do not exceed three thousand five hundred dollars per annum, to be paid out of any money in the treasury not otherwise appropriated. ”

“ 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. ”