549. Joint And Separate Debts. | Bankruptcy Individual Insolvency | LexisNexis

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549. Joint and separate debts.

In the absence of agreement, express or implied¹, there is no set-off between joint and separate debts²; but, if one joint debtor is a surety for the other, the principal debtor may set off against the joint debt a debt due to himself

(7) Proof Of Debts

489. Effect of bankruptcy on creditors' rights.

490. Provable debts.

491. Unliquidated damages.

492. Contingent debts.

493. Court's power to examine debt.

494. Double proof not allowed.

495. Foreign creditors.

496. Illegality or absence of consideration.

497. Foreign revenue claims.

498. Agreement in fraud of other creditors.

499. Costs of legal proceedings.

500. Statute-barred debts.

501. Annuities.

502. Guarantees.

503. Creditor's right of proof against surety.

504. Surety's right of proof against principal debtor.

505. Surety's right of proof against co-sureties.

506. Negotiable instruments.

507. Debts secured by bills of larger amount.

508. Payment of part of debt proved for.

509. Proof by pledgee of bill.

510. Purchase of bills of exchange.

511. Accommodation bills.

512. Proof by bona fide holder of bill.

513. Unindorsed bills.

514. Foreign bills.

515. Bill brokers.

516. Calls on shares.

517. Rent.

518. Insurance money.

519. Counsel's fees.

520. Proof by secured creditors.

521. Executors.

522. Trustees and beneficiaries.

523. Other provable debts.

524. Alien enemies.

525. Consumer credit; extortionate credit transactions.

526. Meaning of 'prove'.

527. Requirements for proof.

528. Delivery of proofs and details of claims.

529. Costs of proving.

530. Trustee to allow inspection of proofs.

531. Admission and rejection of proofs for dividend.

532. Appeal against decision on proof.

533. Withdrawal or variation of proof.

534. Exclusion of proof by the court.

535. Estimate of quantum.

536. Secured creditors.

537. Trade and other discounts.

538. Debt in foreign currency.

539. Payments of a periodical nature.

540. Proof for interest.

541. Debt payable at future time.

542. Right of set-off.

543. Application of set-off provisions mandatory.

544. Where right of set-off available.

545. Secured debts.

546. Rights determined at date of bankruptcy order.

547. Cases where set-off allowed.

548. No set-off where debt assigned.

549. Joint and separate debts.

550. Debts due in different rights.

551. Set-off by or against the Crown.

552. Set-off of contingent debts.

553. Set-off where preferential and non-preferential debts.

554. Rule in Cherry v Boultbee.

555. Meaning of 'secured creditor'.

556. Proof by secured creditors.

557. Value of security.

558. Surrender for non-disclosure.

559. Redemption by trustee.

560. Test of security's value.

561. Realisation of security by creditor.

562. Partners.

563. Appropriation of securities.

564. Property in which third party is interested.

565. Unauthorised investment of trust fund.

566. Equity of exoneration.