This section is from the book "A Commentary On The Law Of Contracts", by Francis Wharton. Also available from Amazon: A Commentary On The Law Of Contracts.
No matter how great may be the damage a creditor may sustain from the non-payment of his debt at maturity, he is not entitled to recover anything beyond principal and interest from his debtor. "Nominal" damages he indeed recovers, but this is "a sum of money that may be spoken of, but that has no existence in point of quantity."2 If before suit is brought the creditor accepts satisfaction for his debt, he cannot afterwards recover any damages whatever for the detention.3 But after suit is begun, payment of the debt does not extinguish the plaintiff's claim for costs and nominal damages.4
After suit is brought, payment, in order to satisfy a debt, must be for interest and costs as well as for debt.5 Payment of the debt, by itself, does not bar the further pressure of the suit. Thus, when a holder of negotiable paper sues severally the parties liable on it, payment in full in one suit does not bar him from proceeding in the other suits for judgment on the penalty.6
Damages for detention of debt limited to interest.
After suit brought, payment must cover interest and costs as well as debt 1 Leake, 2d ed. 890; Cottam V. Partridge, 4 M. & G. 271; Clark V. Alexander, 8 Scott. N. R. 147.
2 Leake, 2d ed. 885.
3 Beamont V. Greathead, 2 C. B. 496.
4 Leake, 2d ed. 885; Nosotti V. Page, 10 C. B. 643; Cook V. Hopewell, 11 Ex. 555; Ash V. Pouppeville, L. R. 3 Q. B. 86; and see as to effect of tender, infra, sec 970 et seq.
5 Leake, 2d ed. 886; Thame V. Boast,.
12 Q. B. 808; Gell V. Burgess, 7 C. B. 16. See as to tender, infra, sec 976.
6 Randall c. Moon, 12 C. B. 261; Goodwin V. Cremer, 18 Q. B. 757. See further, infra, sec 971 et seq. The payment, by the Roman law also, must be of the exact sum in money; for aliud pro alio cannot be rendered invito credit-ore. L. 27, and 50 D. h. t. Any other kind of payment requires the concurrence and approval of the creditor, and releases the debtor only ope exceptionis.
 
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