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in ARTICLE 6.1.12 PICC

PICC  
UNIDROIT Principles of International Commercial Contracts 2016

Zivilrecht

Int. Privat- & Wirtschaftsrecht

(1) An obligor owing several monetary obligations to the same obligee may specify at the time of payment the debt to which it intends the payment to be applied. However, the payment discharges first any expenses, then interest due and finally the principal.
(2) If the obligor makes no such specification, the obligee may, within a reasonable time after payment, declare to the obligor the obligation to which it imputes the payment, provided that the obligation is due and undisputed.
(3) In the absence of imputation under paragraphs (1) or (2), payment is imputed to that obligation which satisfies one of the following criteria in the order indicated:
(a) an obligation which is due or which is the first to fall due;
(b) the obligation for which the obligee has least security;
(c) the obligation which is the most burdensome for the obligor;
(d) the obligation which has arisen first. If none of the preceding criteria applies, payment is imputed to all the obligations proportionally.
Source: UNIDROIT
Imported:

UNCITRAL Digest CISG, Art. 22

Art. 22 CISG
ZivilrechtInt. Privat- & Wirtschaftsrecht

This Digest of Case Law on the United Nations Convention on Contracts for the International Sale of Goods (CISG) was prepared by the UNCITRAL Secretariat in cooperation with national correspondents and international experts. It may serve as a commentary on the CISG. The following excerpt contains the commentary on Article 22 CISG.

Recommended citation: UNCITRAL, Digest of Case Law on the United Nations Convention on Contracts for the International Sale of Goods (2016), Art. 22, para. #.

 

Article 22

An acceptance may be withdrawn if the withdrawal reaches the offeror before or at the same time as the acceptance would have become effective.

 

 

OVERVIEW

1. Article 22 provides that an offeree may withdraw its acceptance if the withdrawal reaches the offeror before or at the same time as the acceptance becomes effective. An acceptance is generally effective at the moment it reaches the offeror in accordance with article 18 (2) (although in certain circumstances an acceptance by an act is effective when the act is performed, as provided in article 18 (3)). Article 24 defnes when an acceptance and a withdrawal of an acceptance “reaches” the offeror. There are no reported cases applying this article.

 

© United Nations. This text is reproduced with permission of the United Nations.

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