page_title: Devaynes v Noble
section_title: Judgment
hierarchical_section_title: Devaynes v Noble / Judgment
caption_attribution_description: Portrait of William Grant (British politician), 1752-1832
context_page_description: Devaynes v Noble 35 ER 781, best known for the claim contained in Clayton's case, created a rule, or more precisely common law presumption, in relation to the distribution of monies from a bank account. The rule is based upon the deceptively simple notion of first-in, first-out to determine the effect of payments from an account, and normally applies in English Law in the absence of evidence of any other intention. Payments are presumed to be appropriated to debts in the order in which the debts are incurred.
context_section_description: Sir William Grant, Master of the Rolls, held that the estate of the deceased partner was not liable to Clayton, as the payments made by the surviving partners to Clayton must be regarded as completely discharging the liability of the firm to Clayton at the time of the particular partner’s death.
caption: Sir William Grant.
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