Set-off will be allowed between a debt due to one party and the amount of acceptances given to him by the other which are outstanding in the hands of third parties1.
There may be set-off between factors and those who deal with them without any knowledge of principals2.
A salesman in possession of money, the proceeds of sale of his employer's goods, or those goods still unsold, is in principle entitled to set off his unpaid commission against that money or those goods3.
If a contributory of a company is bankrupt, debts due to him
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234