setoff


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setoff,

n See offset.
References in periodicals archive ?
Even though the setoff rights are preserved, they are not necessarily self-executing.
EBL article 40 prohibits such a setoff in two additional circumstances: where the creditor granted credit when it had actual knowledge either that the debtor was insolvent (i.
The Court of Appeals, nevertheless, has vindicated the setoff right against restraining notice in Aspen Industries, Inc.
The common law defenses of recoupment and its more familiar colleague, setoff, are ostensibly similar.
This right of setoff will need the approval of the new landlord's lenders, and the tenant will want the lender to agree in a non-disturbance subordination and attornment agreement to be expressly bound by this setoff right in the event it forecloses or otherwise becomes the owner and landlord.
Such a right of setoff is considered unconditional if its exercisability isn't contingent on the occurrence of a future event.
12) Because "contractual discounts" are considered collateral sources, they are barred from being placed into evidence at trial and are subject to a setoff post-verdict.
For one thing, we do not doubt that the setoff matter is 'under dispute' or 'in question' in Case No.
An unattended pan setoff alarms in the Stephenson Building at around 11.
Nor is there typically a post-verdict reduction or setoff for any such collateral benefits received.
This can be legally fraught, as technically the purchaser has no right of setoff and should pay all the vendor finance, then sue the vendor afterwards (with all the difficulties that entails).
A series of advances, totaling $334,400, were made between January 2003 and May 2003, each backed by a separate promissory note, set forth with a payment schedule and a waiver of the right to interpose any setoff or counterclaim.