Legal Question in Business Law in California
California State Laws
I once heard an attorney say that if a business is making payments on an open account, if they choose to make payments on a specific invoice rather than to the account itself that legally, within the state of California, the company receiving the payment, must put the payment towards said invoice rather than the oldest invoice. Is this statement correct? & Where would I find this California law written for my own records? Thank you.
Asked on 1/08/07, 7:04 pm
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: California State Laws
The law is found at Civil Code section 1479, and the statement is correct.
Answered on 1/08/07, 8:46 pm
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