WebSep 20, 2024 · From Constantinople to Your Construction Project: A Brief History of Setoff. The right of setoff has an ancient pedigree. Roman law, as set out in Justinian’s sixth … WebWHAT IS SET-OFF? A right of set-off is a personal right, rather than a security interest, that arises between two parties who owe each other monetary claims. Where two parties owe …

Set-off (law) - Wikipedia

WebSample Clauses. Right to Set Off. If your Account balance becomes and remains negative, we can use the funds in any of your accounts with us to repay the negative balance in your … Web1. The right of someone who owes money to subtract from the debt any money owed in the other direction. 2. A defedant's monetary demand against the plaintiff for some injury … thomas mcbee funeral home

Right to Offset Clause: Everything You Need to Know - UpCounsel

WebSample Clauses. No Right of Set-Off. The Trustee waives any right of set -off or any right, title, interest or claim of any kind that the Trustee may have against the Property held in … Weblaw of set-off as traditionally understood. 5 . The laws regarding depositor priority, rights of set-off, and collateralisation can affect recoveries in the event of insolvency. In countries … Set-off, also sometimes "set off", is a legal event and therefore legal basis is required for the proposition that two or more gross claims are to be netted. Of these legal bases, a common form is the legal defense of set-off, which was originally introduced to prevent the unfair situation whereby a person ("Party A") who owed money to another ("Party B") could be sent to debtors' prison, despite the fact that Party B also owed money to Party A. The law thus allows both partie… thomas mccabe