Nichols, Shepherd & Co. v. Knowles

The rule as to voluntary payments is that the debtor may direct the application of such payments upon one of several debts due from him to the creditor. Tayloe v. Sandiford, 7 Wheat. 33. Does this rule apply to the present case? A voluntary payment, within the meaning of this rule, is one made by the debtor on his own motion, and without any compulsory process. A payment made upon execution does not fall within the rule. When, under the statute of Minnesota, a chattel mortgage is placed in the hands of the sheriff, with orders to seize and sell the mortgaged property for the purpose of paying…