setoff


Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

setoff,

n See offset.
References in periodicals archive ?
Thanks to Debtor & Creditor Law section 151, not even a lien can interfere with prepayment, because prepayment establishes a setoff opportunity, which is senior to any lien.
this setoff advantage in the clearinghouse, allowing for smaller players
Goble required a setoff because evidence of the plaintiff's HMO was inadmissible at trial.
A more satisfying interpretation is that the revision of the original September 11,1997, proposal introduced the setoff aspects of the penalty calculation to ensure consistency between the overall adjustment to income arising from the cumulative effect of applying subsection 247(2) to all of a taxpayer's transactions, and the penalty base (which, in the original version, lacked the same cumulative effect).
In addition, setoff rights were denied on grounds that there was no mutuality as required by Section 1031.
The metaphysics of setoff have never been well understood.
oWhat happened in Saad Group was not a settlement but a setoff financial operation for assets that were mortgaged,o he said.
If there was no award, then the party out of possession could seek one-half of the fair rental value of the home as a setoff against a claim by the party in possession for reimbursement or credits for one-half of the amount expended for mortgage payments, taxes, insurance, and maintenance.
Fire stations in the Black Country also reported several call-outs to fire alarms setoff by the thunder.
The company may want to ensure that its director's contractual agreements provide for a right of setoff.
You are now not allowed to setoff fireworks after 11.
Trust me, with this setoff speaker in your home you are certain of two things - satisfied ears and annoyed neighbours.