Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)

Citation: Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)
Parent Document: Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)
Jurisdiction: Rhode Island (state)
Effective Date: 1998-03-30
Original Source: https://www.courtlistener.com/opinion/4113657/apple-valley-mall-v-floyd-realt... ↗

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"Absent an agreement to the contrary, a payment on an obligation payable in installments is applicable to the installment first falling due . . . . (citing Smith v. Renz, 122 Cal.App.2d 535, 265 P.2d 160 (1954); Williams v. Cambridge Companies, Inc., 615 S.W.2d 172; 89 A.L.R.3d 947 (Tex. 1981)). But where the agreement calls for installments of flat amounts, a payment in excess of an installment has been held applicable to the next installments, and the debtor is not in default as long as his total payments equal the total amount of the installments due at that time. (citing Los Angeles Invest. Co. v. Wilson, 181 Cal. 616, 185 P. 853
(1919))." 60 Am.Jur.2d § 117, supra.

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