📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Where neither party any appropriation, the payment shall

    be applied: 
    A If the debts are of equal standing, the payment shall be applied in discharge of each proportion ably. Correct Answer Incorrect Answer
    B In discharge of the debts in order of time. Correct Answer Incorrect Answer
    C Whether they are or are not barred by the law in force for the time being in as to the limitations of suits. Correct Answer Incorrect Answer
    D All of the above. Correct Answer Incorrect Answer
    E None of the above. Correct Answer Incorrect Answer

    Solution

    Section 59-61 of the Indian Contract Act deal with appropriation of payments. If neither party makes an appropriation: • If debts are of equal standing, payments are applied proportionately. Otherwise, payments are applied in order of time, regardless of limitation period. All these rules apply simultaneously.

    Practice Next
    More Other Laws and Acts Questions
    ask-question