This means the application of a payment to the discharge of a particular debt. Thus, if a creditor has two distinct debts due to him from his debtor, and the latter makes a general payment on account, without specifying at the time to which debt he intends the payment to apply, it is optional for the creditor to appropriate (apply) the payment to either of the two debts he pleases. Gwin v. McLean. 02 Miss. 121; Martiu v. Draher, 5 Watts (Pa.) 544. In English ecclesiastical law. The perpetual annexing of a benefice to some spiritual corporation either sole or aggregate, BL.LAW DICT.(2D ED.)
What is APPROPRIATION OF PAYMENTS?
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