Question

Please explain Clayton’s Rule of Appropriation by pointing out the relevant provisions of law. (10 Marks)​

Answer 1

Answer:

what is deferent tipes of economocs

Answer 2

Answer:

Clayton’s Rule of Appropriation of Payments:

In Engl and, it has been consi dered a basic rule since the case of Devaynes vs Noble, also known as Clayton’s case. In this, it was held that the de btor can request the creditor to appro priate the am ount to any of the debt in case he ow es to the cred itor sev eral and dis tinct deb ts, if the cre ditor agr ees to it, then he is bound by it. The surviving pa rtners continued to trade without making any changes. They later fell into bankruptcy. Creditors of the bank at the da te of the death still traded with the bank with varying changes in their banking accounts.