Section 59 of ICA : Section 59: Application Of Payment Where Debt To Be Discharged Is Indicated
ICA
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Explanation using Example
Imagine John owes Rachel $500 for a personal loan and another $1000 for a car repair. He makes a payment of $500 to Rachel and specifies that the amount should be used to settle the personal loan. According to Section 59 of The Indian Contract Act, Rachel must apply this payment to the personal loan as John has expressly indicated his intention.
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