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 apply in the absence of evidence of any other intention. Payments are presumed to be appropriated to debts in the order in which the debts are incurred.
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