Set-off

Set-off definition

/ˈsɛtɒf/

What does Set-off mean?

Set-off can be insolvency, contractual, equitable (or transaction), statutory (or legal) or retainer (sometimes referred to as the rule in Cherry v Boultbee (1839) 41 ER 171). This is essentially when 'A' owes money to 'B' and 'A' can subtract anything 'B' owes it first, before making payment.

Variances

Set-off clauses

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