Clayton’s Case in Europe
Definition of Clayton’s Case
((1816), 1 Mer. 572). In regard to a banking account, the suras first paid in are assumed to be exhausted by the sums first paid out
Clayton had a banking account with a partnership firm and had a balance at the death of a partner. Later the firm failed. Clayton claimed that the estate of the deceased partner was liable to the extent of the balance at the date of his death. Held, that that balance had been exhausted by subsequent drawings, irrespective of subsequent payments in
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Definition of Clayton’s Case is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.
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