What is REST, n?

Rests are periodical balancings of an account, (particularly in mortgage and trust accounts,) made for the purpose of converting interest iuto principal, and charging the party liable thereon with compound interest. Mozley & Whitley.

More On This Topic

Link to This Definition
Did you find this definition of REST, n helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary