annual rest

annual rest
Apart from a yearly vacation, the expression "annual rest" has a meaning in the law of interest. In charging compound interest to a fiduciary who otherwise will make a profit which a court of equity will not permit, the interest is computed annually at periods designated as annual rests, at which time the fiduciary is charged with interest and credited with his commissions as well as lawful disbursements during the year. 30 Am J Rev ed Int § 60.

Ballentine's law dictionary. . 1998.

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  • annual rest system — /ˌænjuəl rest ˌsɪstəm/ noun a system by which extra payments or overpayments made to reduce the amount borrowed on a mortgage are credited to the account only once a year …   Dictionary of banking and finance

  • annual rest basis — method of calculating interest rate of a loan per the balance still unpaid from the start of the year …   English contemporary dictionary

  • Rest — Rest, n. [AS. rest, r[ae]st, rest; akin to D. rust, G. rast. OHG. rasta, Dan. & Sw. rast rest, repose, Icel. r[ o]st the distance between two resting places, a mole, Goth. rasta a mile, also to Goth. razn house, Icel. rann, and perhaps to G. ruhe …   The Collaborative International Dictionary of English

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  • To set one's rest — Rest Rest, n. [AS. rest, r[ae]st, rest; akin to D. rust, G. rast. OHG. rasta, Dan. & Sw. rast rest, repose, Icel. r[ o]st the distance between two resting places, a mole, Goth. rasta a mile, also to Goth. razn house, Icel. rann, and perhaps to G …   The Collaborative International Dictionary of English

  • To set up one's rest — Rest Rest, n. [AS. rest, r[ae]st, rest; akin to D. rust, G. rast. OHG. rasta, Dan. & Sw. rast rest, repose, Icel. r[ o]st the distance between two resting places, a mole, Goth. rasta a mile, also to Goth. razn house, Icel. rann, and perhaps to G …   The Collaborative International Dictionary of English

  • Diggers Rest, Victoria — Diggers Rest Victoria view from south east …   Wikipedia

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