A more thorough explanation:

Electio est creditoris (i-lek-shee-oh est kred-i-tor-is) is a Latin term used in Scots law. It means that the creditor has the election or choice. This phrase refers to the creditor's right to choose which debt to apply payments to.

For example, if a debtor owes money to a creditor for two different debts, and the debtor makes a payment without specifying which debt it is for, the creditor can choose which debt to apply the payment to. The creditor can choose to apply the payment to the debt that is least secured or has the highest interest rate.

However, if the debtor specifies which debt the payment is for, then the creditor must apply the payment to that specific debt.

The examples illustrate the definition of electio est creditoris by showing how the creditor has the right to choose which debt to apply payments to. If the debtor does not specify which debt the payment is for, the creditor can choose which debt to apply it to. This gives the creditor more control over the payment process and allows them to prioritize their debts. However, if the debtor specifies which debt the payment is for, the creditor must apply the payment to that specific debt, giving the debtor more control over the payment process.