61: Application of payment where neither party appropriates
The Contract Act · Federal Acts · Chapter IV · in_force
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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 limitation of suits. If the debts are of equal standing, the payment shall be applied in discharge of each proportionably. Contracts which need not be performed
Related sections
60: Application of payment, where debt to be discharged is not indicated62: Effect of novation, rescission and alteration of contract59: Application of payment, where debt to be discharged is indicated63: Promisee may dispense with or remit performance of promise58: Alternative promise, one branch being illegal64: Consequences of rescission of voidable contract
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