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Section 61, Contract Act 1872: Application Of Payment Where Neither Party Appropriates

Section 61 under the Chapter IV (Of the performance of contracts, Contracts which must be performed) of the Contract Act, 1872 of India - 'Application of payment where neither party appropriates', is reproduced hereunder:—

“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.”

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