Devaynes v Noble

Devaynes v Noble (1816) 35 ER 781, best known for the claim contained in Clayton`s case, created a rule, or rather common law presumption in relation to the distribution of monies from a bank account. The rule is based upon the deceptively simple notion of first-in, first-out to determine the effect of payments from an account, and will normally .
Found on http://en.wikipedia.org/wiki/Devaynes_v_Noble
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