Opinion
December 1809.
A merchant who advertises that he will take property of a particular kind for goods, if paid within a given period, is bound to receive such property, tendered before or at the day appointed, at the usual place of reception, by a customer who deals with him after the advertisement, without making any contract.
The application of payments, of money or property, is subject to the direction of the debtor at or before the payment; afterwards of the creditor. [See 2 Hum. 524; 10 H. 238; 9 H. 123.]
Case, on a quantum valebant, for goods, wares, and merchandise. — The plaintiffs were merchants, and advertised that they would take cotton in payment. The defendant took up goods.
If a merchant advertises that he will take property of any kind for goods if paid by a certain time, and a person afterwards deals without making any contract, and afterwards tenders, at the usual place of reception of such property, before, or at the day pointed out in the advertisement, the merchant is bound to receive it. After property or money is paid ton creditor to whom the debtor owes on more than one account, he loses all power of directing on what account it shall be paid. The direction of the person paying must be given at, or previous, to the time of payment.