In order that debts may be set off, they must be due respectively in the same right1; and, therefore, debts due to or from executors personally cannot be set off against debts due from or to them in their capacity as executors2, nor may debts due to or from a trustee in bankruptcy personally be set off against debts due from or to the bankrupt3. Where a creditor has received money since the bankruptcy which, on its receipt, belongs in equity to the trustee in bankruptcy, he cannot set off against it a debt due to him by the
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What are OFTOs?Offshore Transmission Owners (OFTOs) are the owners of offshore transmission assets which connect offshore wind farms to the onshore electricity network. The transmission assets comprise everything between the offshore point of connection with the generating wind farm assets and the
Source of the doctrine of the separation of powersThe origins of the doctrine are often traced to John Locke’s Second Treatise of Government (1689), in which he identified the 'executive' and 'legislative' powers as needing to be separate.‘… it may be too great a temptation to human frailty, apt to
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Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
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