Apex Law Journal
Apex Law Journal
An online law journal reporting latest and important judgments of Hon'ble Supreme Court of India.                                                                                                                         Click here to get free legal updates via email                                                                                                                          Click here to download forms (Address Form, List Of Documents and Memorandum Of Appearance)
User Name :
Password :
New Subscriber
Forgot Password
 

Editor

Neha Goel, Advocate

Advisory Board

S.C. Khunger, Advocate

Rohit Bansal, Advocate

Varinder Singh Kanwar, Advocate

Hittan Nehra, Advocate

Judgments on Appropriation of payment

Thursday, December 08, 2011
Appropriation of payment

Appropriation of payment — Debtor while tendering the amount made a unilateral assertion that the payment is towards the principal amount and that there was, therefore, no other amounts due and payable to the creditor — Creditor accepted the amount on protest — Whether the creditor would be bound by the appropriation as proposed by the debtor or is he entitled to appropriate the same against the interest which was due and payable till that date on the principal amount? — Held, the creditor is not bound by the appropriation as proposed by the debtor — He is entitled to appropriate the same against the interest which was due and payable till that date on the principal amount — Principle laid down in Rai Bahadur Seth Nemichand’s case [AIR 1922 PC 26] will have no application.

 
Act Topic
Rule Citation
Keyword
 
Free Text Search
 
Follow us on :
(Best view with 1024x768 Resolution)
© All rights including Copyrights and rights of translations etc, reserved and vested exclusively with Deepak Publications. No part of this publication may be reproduced or transmitted in any form or by any means, electronics, mechanical, photocopying, recording or otherwise, or stored in any retrival system of any nature without the written permission of the copyright owner.

By using this site, you (and any entity on whose behalf your are acting) are consenting to be bound by Terms & Conditions, Privacy Policy & Disclaimer Clause.