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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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.
2012: 1590); if the creditor does not exercise his right within a reasonable time, he will lose the right to make the imputation of payment and the rules provided by law for legal imputation are applicable in this case.