APPROPRIATION OF PAYMENTS meaning in Law Dictionary

what this means is the effective use of a payment towards the discharge of a specific financial obligation. Hence, if a creditor features two distinct debts because of him from his debtor, and latter tends to make a general repayment on account, without specifying at the time to which financial obligation he intends the repayment to make use of, it's optional the creditor to appropriate (utilize) 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 for some spiritual organization either only or aggregate, BL.LAW DICT.(2D ED.)