Indian Contract Act, 1872
Section - 61 - Application of payment where neither party appropriates
Application of payment where neither party appropriates
61. Where neither party makes any appropriation, the payment shall be applied in discharge of the debts in order of time, whether they are or are not barred by the law in force for the time being as to the limitations of suits. If the debts are of equal standing, the payment shall be applied in discharge of each proportionably
CAclubindia
