Section 61 – THE INDIAN CONTRACT ACT, 1872

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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Practice area's of B K Goyal & Co LLP

Company Registration Services in major cities of India

Complete CA Services

RERA Services

Most read resources