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单词 Clayton's case
释义

Clayton's case

Definition
UK's 1816 case (Devaynes v. Noble) which set the precedent that funds withdrawn from an account are presumed to be debits from the funds deposited first-the first-in, first-out (FIFO) principle. This ruling, however, is not applicable to trustees who are presumed to draw their own money from mixed bank-accounts and not the trust money, no matter when it was deposited.
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更新时间:2025/3/10 8:42:48