application of payments
Defined in 4 dictionaries — Case Law, Ballentine's (1916), Black's (1891), Stimson (1881)
Definitions from Case Law
From 20 U.S. 13 - Tayloe v. T. & S. Sandiford · 1822Most cited · 115 citing opinions
A person owing money under distinct contracts has undoubtedly a right to apply his payments to whichever debt he may choose; and, although prudence might suggest an express direction of the application of his payments at the time of their being made; yet there may be cases in which this power would be completely exercised without any express direction given at the time. A direction may be evidenced by circumstances as well as by words.
Ballentine's Law Dictionary
James A. Ballentine · 1916
A Dictionary of Law
Henry Campbell Black · 1891
Appropriation of a payment to some particular debt; or the determination to which of seyeral demands 4 general payment made by a debtor to his creditor shall be applied.
Glossary of Technical Terms, Phrases, and Maxims of the Common Law
Frederic Jesup Stimson · 1881
The appropriation a debtor, to some particular debt.