Setoff definition

Author: jryw

August undefined, 2024

WebSetoff. 1. 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 … WebSetoff. 1. 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 unrelated to the plaintiff's claim. wex. COMMERCE. commercial law. commercial activities.

What is Set Off? Distinction Between Legal Set Off And Equitable Set Off

Webset off vi phrasal (begin a journey) partir⇒ vi : prendre la route loc v : se mettre en route loc v : We'll have to set off very early to avoid the rush-hour traffic. On devra partir très tôt pour … WebSet-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 … does a head mri include neck

Set off - definition of set off by The Free Dictionary

WebDefine setoff. setoff synonyms, setoff pronunciation, setoff translation, English dictionary definition of setoff. n. 1. Something, such as a decoration, that sets off something else by contrast. 2. Something that offsets or compensates for something else; a... WebSetoff. 1. The ability of a debtor to reduce the amount of one's debt by an amount the creditor owes to the debtor. Thus, if a debtor owes a creditor $20,000 but the creditor owes the debtor $5,000 in an unrelated matter, setoff allows the debtor effectively to … WebSet-Off. A demand made by the defendant against the plaintiff that is based on some transaction or occurrence other than the one that gave the plaintiff grounds to sue. The … eye in bright light gcse

Offset Definition & Meaning - Merriam-Webster

Legal update: An introduction to statutory insolvency set-off

Webset·off. (sĕt′ôf′, -ŏf′) n. 1. Something, such as a decoration, that sets off something else by contrast. 2. Something that offsets or compensates for something else; a counterbalance. … Webtransitive to cause something to operate, especially by accident. Jeff pushed open the front door, which set off the alarm. Synonyms and related words. 3. transitive to make … eyeincloud.comWebIn printing, set-off is a defect in the print characterised by the transfer of wet ink from the substrate to another surface. Set-off is commonly seen in the printing of sheets, where … does a health card count as id

"Web6 Apr 2024 · setoff in American English (ˈsetˌɔf, -ˌɑf) noun 1. something that counterbalances or makes up for something else, as compensation for a loss 2. Accounting a counterbalancing debt or claim, esp. one that cancels an amount a debtor owes 3. Also called: offset Architecture a. a reduction in the thickness of a wall b. " - Setoff definition

Setoff definition

Web6 Jul 2024 · Set-off is a common law right allowing parties (each of which being both a creditor and a debtor) that have debts owing to each other to set them off. Where the right of set-off is applicable, the parties can net their payment obligations, and, as a result, will be liable to pay the remaining balance only. Webset (someone or something) off 1. To ignite or cause something to explode. Kids in the area have been setting off fireworks all night long. The police set a small bomb off to force the …

Did you know?

Webset off [sth] vtr phrasal sep. (highlight by contrasting) mettre [qch] en avant, faire ressortir [qch] loc v. That colour looks good on you; it sets off your eyes. Cette couleur te va bien : ça met tes yeux en avant (or: ça fait ressortir tes yeux). set [sb] off vtr phrasal insep. Web6 Aug 2024 · What is set off? Where the right of set off arises, it can act as a defence to part or the whole of a claim. Example: when the right of set off arises, if B owes A £800,000, …

WebIt is also known as the right to combine accounts. It is arguably of wider commercial application and could be available in any situation where one party has two or more … WebSetoff definition: Something, such as a decoration, that sets off something else by contrast.

WebFirst Impressions: Third Circuit Scuttles Triangular Setoff in Bankruptcy. The ability of a creditor to exercise its contractual, common law or statutory rights under non-bankruptcy law to set off amounts owed to a debtor in bankruptcy against the debtor's obligations to the creditor gives offsetting creditors an important advantage. Unlike ... Web"setoff" (1) After all preparations were made, they setoff secretly. (2) The Written Notice will specify the basis for the setoff. (3) A. Don't move the printed paper before the ink dries to avoid setoff. (4) Losses of the PBC shall be setoff by allocations of the central finance. (5) On the field of generated result, your perseverance often can setoff with the talent.

WebSet-off definition: (idiomatic, intransitive) To leave ; to begin a journey or trip .

WebGeneral rule to insolvency set off. The general rule is that creditors of liquidated companies are entitled to set off and they only need to pay any net amount due to the company (or the individual), or receive the net amount owed by the company. ... (Cap. 6) provides a wide protection to the creditors as the statutory definition of debts ... does a head gasket need sealerWebThe meaning of SET-OFF is the reduction or discharge of a debt by setting against it a claim in favor of the debtor; specifically : the reduction or discharge of a party's debt or claim by … does a head injury cause dementiaWebIn printing, set-off is a defect in the print characterised by the transfer of wet ink from the substrate to another surface. Set-off is commonly seen in the printing of sheets, where printed sheets are usually stacked on top of one another; if the ink on a sheet doesn't dry properly before the next sheet exits the printer, the ink will ... eye in chinese