¶1 The payment ought in the first place to be applied to the discharge of the interest accrued, and if a balance of payments remains then to deduct it from the principal. If the plaintiff received the notes as payment the defendant should be credited from the day of the receipt, otherwise it •is, if he only made them his by delay and keeping them in his possession. The defendant may stop interest when he pleases by tendering the principal and interest, but it is not a legal tender to say, here I am ready ; he must have the money ready also.
3 N.C. 151
North v. . Mallett
Superior Court of North Carolina
Decided November 5, 1801
Superior Court of North Carolina · decided 1801-11-05
¡¡pASE for money due by two notes of hand payable January, ^ 1784. Payments were made in part by twa notes in 17S3, also there were several other payments, and in 1785 a payment was made to the amount of the balance of the principal, and an offer was then made to pay any balance which might be then due, if the plaintiff would agree to credit to the amount of the notes, which he refused.
Decided 1801-11-05