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    Question

    Where neither party makes any appropriation, how shall

    the payment be applied in discharge of the debts?
    A In order of time Correct Answer Incorrect Answer
    B In order of amount Correct Answer Incorrect Answer
    C In order of place Correct Answer Incorrect Answer
    D If debts are not of equal standing, it shall be discharged proportionally Correct Answer Incorrect Answer

    Solution

    Contract Act -Section 61.┬а┬а Application of payment where neither party appropriates- 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 proportionally.

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