51.
The answer is: A
Explanation
The correct option is A. Section 59 to 61.
These sections of the Indian Contract Act, 1872, provide the rules for the appropriation of payments in cases where a debtor owes several distinct debts to the same creditor and makes a payment that is insufficient to satisfy all the debts. According to these sections, the appropriation of payments can be done in three ways:
By the debtor: If the debtor makes a payment to the creditor and expressly or impliedly indicates that the payment is to be applied to the discharge of some particular debt, the payment must be applied accordingly, if accepted by the creditor. This is stated in Section 59.
By the creditor: If the debtor does not indicate which debt the payment is to be applied to, and there are no other circumstances indicating it, the creditor may apply it at his discretion to any lawful debt actually due and payable to him from the debtor, whether its recovery is barred by limitation or not. This is stated in Section 60.
By law: If neither party makes any appropriation, the payment shall be applied in discharge of the debts in order of time, whether they are barred by limitation or not. If the debts are of equal standing, the payment shall be applied in discharge of each proportionately. This is stated in Section 61.
These rules are based on the principles of justice, equity and good conscience, and are intended to prevent disputes and confusion between the parties. They also protect the rights and interests of both the debtor and the creditor.