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setoff

The claim a debtor can make against a creditor that reduces or cancels the amount the debtor owes.

Related information about setoff:
  1. setoff - Legal Dictionary | Law.com
    setoff. (offset) n. a claim by a defendant in a lawsuit that the plaintiff (party filing the ... By claiming a setoff the defendant does not necessarily deny the plaintiff's ...
     
  2. Setoff - Definition and More from the Free Merriam-Webster Dictionary
    Dec 5, 2011 ... something that is set off against another thing: a : decoration, ornament. b : compensation, counterbalance. 2. : the reduction or discharge of a ...
     
  3. setoff - Legal Dictionary - The Free Dictionary
    setoff (offset) 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 ...
     
  4. setoff - definition of setoff by the Free Online Dictionary, Thesaurus ...
    Something, such as a decoration, that sets off something else by contrast. 2. Something that offsets or compensates for something else; a counterbalance. 3. a .
     
  5. What is setoff? definition and meaning
    Definition of setoff: Banking: Bank's legal right to seize a borrower's any account balance (except a sub-account balance) in the same bank to apply it toward the ...
     
  6. Setoff and Recoupment.DOC - Fredrikson & Byron PA
    Setoff is an equitable right of a creditor to deduct a debt it owes to the debtor from ... independent source of law that authorizes setoff or recoupment; it recognizes ...
     
  7. Setoffs And Bankruptcy : Business Bankruptcy Blog
    Jul 31, 2006 ... Setoff. When a complete setoff is made, no cash changes hands but each side's debt to the other is canceled. In some business relationships, ...
     
  8. Code of Laws Title 12 Chapter 56 Setoff Debt Collection Act
    This chapter may be cited as the "Setoff Debt Collection Act". HISTORY: 1995 Act No. 76, Section 5. SECTION 12-56-20. Definitions. As used in this chapter: ...