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1The Contract Act, 1872

( ACT NO. IX OF 1872 )

[ 25th April, 1872 ]

Chapter IV

OF THE PERFORMANCE OF CONTRACTS

Appropriation of Payments

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 limitation of suits. If the debts are of equal standing, the payment shall be applied in discharge of each proportionally.
  • 1
    Throughout this Act, except otherwise provided, the words "Bangladesh", "Taka" and "Penal Code" were substituted, for the words "Pakistan" or "East Pakistan", "Rupees" or "Rs." and "Pakistan Penal Code" respectively by section 3 and 2nd Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).
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