Definition of setoff
Webset off: 1 v direct attention to, as if by means of contrast “I set off these words by brackets” Synonyms: bring out Types: pick up lift out or reflect from a background foreground , … Websomething that is set off against another thing:; decoration, ornament; compensation, counterbalance… See the full definition Hello, ... Share the Definition of setoff on Twitter Twitter. Kids Definition. set off. verb. 1. a: to cause to show up clearly. bright flowers set off by dark shadows. b
Definition of setoff
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WebDefine set off. set off synonyms, set off pronunciation, set off translation, English dictionary definition of set off. v. set , set·ting , sets v. tr. 1. To put in a specified position or … WebTheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. (A) It is an reduction in an amount owed by a party since the adverse party also owes money to that party. For example, a set off is used in a counterclaim to reduce the amount that may be owed by a defendant to a plaintiff since the defendant shows that the plaintiff also owes the ...
Websenate report no. 95–989. This section preserves, with some changes, the right of setoff in bankruptcy cases now found in section 68 of the Bankruptcy Act [section 108 of former title 11]. One exception to the right is the automatic stay, discussed in connection with proposed 11 U.S.C. 362.Another is the right of the trustee to use property under section 363 that is … 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 …
WebApr 6, 2024 · Setoff definition: a thing that makes up for or sets off something else; counterbalance ; compensation Meaning, pronunciation, translations and examples
Webnoun. ˈset-ˌȯf. 1. : 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 … hermit coffeeWebDefinition of Set-Off Rights. Set-off is the cancellation of mutual obligations outside of a court proceeding. It allows a debtor to reduce the amount it owes to a creditor by the amount the creditor owes to the debtor. Set-off is a self-help remedy that is governed by state statutory and common law. In the context of bank loans, if the bank ... max health bronxWebsetoff: n. a claim by a defendant in a lawsuit that the plaintiff (party filing the original suit) owes the defendant money which should be subtracted from the amount of damages … max healthcare addressWebset off. v. 1. To give rise to something; cause something to occur: The heat set off a chemical reaction. A branch fell on my car and set the alarm off. 2. To cause something … hermit club brentwoodWebNov 4, 2024 · Doctrine of set off.This area of law is complex but keep in mind this potential right. Doctrine of set off. Setoff legal definition of setoff 2024-11-04 ... Equitable Right to set off Law and Legal Definition. Interesting to learn how set-off clauses play out in financial transactions. However, in a lending transaction, parties seeking to apply ... max health bupaWebSetoff. 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 … hermit club clevelandWebDel. 2009), a Delaware bankruptcy court ruled that triangular setoff is not permitted in bankruptcy due to the absence of mutuality. According to the court, “ [M]utuality cannot be supplied by a multi-party agreement contemplating a triangular setoff.”. The court rejected the contention that parties can contract around section 553’s ... maxhealth cardiology