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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Understanding Payment Allocation Under Section 61 of the Indian Contract Act: Chronological Order and Proportional Distribution Explained</h1> Section 61 of the Indian Contract Act, 1872, addresses the appropriation of payments when neither the debtor nor the creditor specifies how a payment should be applied. In such cases, payments are applied to debts in chronological order, regardless of whether those debts are barred by the statute of limitations. If the debts are of equal standing, the payment is proportionally distributed among them.
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