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 parti… Webset something off significado, definição set something off: 1. to cause an activity or event, often a series of events, to begin or happen: 2. to cause a loud…
The Basics: What is set off and when does the right to set off arise?
WebExcept as provided in the Purchase Agreement, Maker shall have no right to set off, offset or deduct any amount otherwise due, payable or owing under or pursuant to this Note. No Right of Setoff. Each party for itself and for its Subsidiaries, Affiliates, successors and assigns hereby unconditionally and irrevocably waives any rights of set ... WebExamples of Right of Set-Off in a sentence. Waiver of Right of Set-Off 11 ARTICLE VI - TERMINATION 11 Section 6.01.. The provisions set forth in Section 23.2 (Right of Set-Off) of the Common Terms Agreement are incorporated by reference and shall apply mutatis mutandis as if fully set forth herein.To the extent that ADCB exercises its Right of Set … hillbrook dental health centre birmingham
No Right of Setoff Sample Clauses: 200 Samples Law Insider
Web6 de ago. de 2024 · No. Set off can only be used defensively, to reduce or extinguish a claim. It provides the defendant with protection against a claim, acting like a shield. In … Web' set off ' aparece también en las siguientes entradas: In the English description: detonate - initiate - light out - put in motion - put in operation - sound Spanish: petar - salir - desencadenar - partir - dirigir - encaminar - enrumbar - mochila al hombro - tirar - tronar cohetes In Lists: phrasal verbs, PET Vocabulary List - S, more... Weba : a right to seek reduction or discharge of a debt or claim by countering a party's claim with an independent claim b : a counterclaim made by a defendant against a plaintiff for reduction or discharge of a debt by reason of an independent debt owed by the plaintiff to the defendant compare recoupment sense 2 set off 2 of 2 transitive verb smart choice dishwasher power cord