Imputation of payment

IMPUTATION OF PAYMENT. This term is used in Louisiana to signify the appropriation which is made of a payment, when the debtor owes two debts to the creditor. Civ. Code of Lo. art. 2159 to 2262. See 3 N. S. 483; 6 N. S. 28; Id. 113: Poth. Ob. n. 539, 565, 570; Durant. Des Contr. Liv. 3, t. 3, Sec. 3, n. 191; 10 L. R. 232, 352; 7 Toull. n. 173, p. 246.

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If a debtor has towards the same creditor several debts dealing with goods of the same kind and the payment does not suffice to discharge all debts, it is necessary to establish how to determine the order of payment of debts; this operation was regulated by the legislature as the "imputation of payment" (art.
The order of the persons called to make the imputation of payment is the following: the parties to the legal relation, the debtor, the creditor; in the absence of the parties' agreement and an option expressed by the debtor or the creditor, the imputation of payment shall be made by the effect of the law.
pre-existing institution, "Imputation of Payment." Typically