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1. gowlingwlg.com › en › insights-resourcesWhat is set off and when does the right arise? | Gowling WLG

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   Aug 6, 2019 · Where the right of set off arises, it can act as a defence to part or the whole of a claim. Example: when the right of set off arises, if B owes A £800,000, but A in fact owes B £200,000, B can set off that £200,000 when A claims its £800,000, and pay to A only the balance of £600,000. The maths is simple, but the more difficult area is ...

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2. www.mondaq.com › canada › contracts-and-commercialThe Basics: What Is Set Off And When Does The Right To Set ...

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   Legal set off. Where legal proceedings have been commenced, it may be possible to set off mutual undisputed debts arising from unrelated transactions (known as legal set off), but bear in mind the wording of any contractual exclusion which may preclude legal set off.

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     How Set-off different from Counter-claim? | Set-off | Counter-Claim | CPC | Law

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     Difference between legal set-off and equitable set-off | CPC 1908 LECTURE 31,

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     Set off in cpc/essential elements of set off/Types of set off

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4. en.wikipedia.org › wiki › Set-off_(law)Set-off (law) - Wikipedia

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   In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]

5. www.rogerspartners.com › two-types-set-offThe Two Types of Set-Off - Rogers Partners LLP

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   Jun 8, 2020 · In Mujtaba v.Yasin, 2020 ONSC 2554, Justice Emery addressed the two types of set-off: legal set-off and equitable set-off.. Legal set-off is provided for in section 111 of the Courts of Justice Act, which states: “in an action for payment of a debt, the defendant may, by way of defence, claim the right of set off against the plaintiff’s claim a debt owed by the plaintiff to the defendant”.

6. www.legalbriefai.com › legal-terms › set-offset-off - Meaning in law and legal documents, Examples and ...

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   In legal terms, this process is called set-off. It allows people to balance out what they owe with what they are owed, making it easier to settle debts. In many situations, set-off can be a helpful tool. For example, if someone is being sued for unpaid bills, they might claim set-off if they believe the other party owes them money for something ...

7. www.lexology.com › library › detailThe Basics: What is set off and when does the right to set ...

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   Aug 6, 2019 · Where the right of set off arises, it can act as a defence to part or the whole of a claim. Example: when the right of set off arises, if B owes A £800,000, but A in fact owes B £200,000, B can ...

8. People also ask

   What is legal set-off?

   • Legal set-off or Independent set-off, also known as statutory set-off: this arises where a claim and a counterclaim in a court action are both liquidated sums or ascertained with certainty. This is wider than insolvent set-off, but the claim and cross claim must be mutual and liquidated.

   Set-off (law) - Wikipedia

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   What is set off & how does it work?

   • In certain circumstances, if a claim is proven, the defendant will be able to offset monies that are due to it from the claimant - this is known as set off. Here, we cover the basics of set off, including the different types of set off and key points you need to know.

   The Basics: What Is Set Off And When Does The Right To Set Off ... - Mo…

   www.mondaq.com/canada/contracts-and-commercial-law/834500/the-basics-what-is-set-off-and-when-does-the-right-to-set-off-arise

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   What is set off if a claim is proven?

   • In certain circumstances, if a claim is proven, the defendant will be able to offset monies that are due to it from the claimant - this is known as set off. Here, we cover the basics of set off, including the different types of set off and key points you need to know. What is set off?

   The Basics: What is set off and when does the right to set off arise

   www.lexology.com/library/detail.aspx?g=b474e159-e3d4-4479-8dd5-ee4515a9cd1d

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   What is a set-off in Canada?

   • Set-off results in the defendant paying less to the plaintiff than it otherwise would as rather than paying the entire debt, it reduces the payment by the amount the plaintiff owes to it. There are three types of set-off recognized in Canadian law: legal (also referred to as “statutory”), contractual, and equitable.

   Overview of the Defence of Set-Off - Whitelaw Twining

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   Can a right of set off be a defence to a claim?

   • Where the right of set off arises, it can act as a defence to part or the whole of a claim. Example: when the right of set off arises, if B owes A £800,000, but A in fact owes B £200,000, B can set off that £200,000 when A claims its £800,000, and pay to A only the balance of £600,000.

   What is set off and when does the right arise? | Gowling WLG

   gowlingwlg.com/en/insights-resources/articles/2019/what-is-set-off-and-when-does-the-right-arise

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   What is a set-off in a bankruptcy case?

   • Set-off is a legal principle that allows a defendant to reduce or offset amounts owing to a plaintiff by counter-claiming against the plaintiff. Set-off results in the defendant paying less to the plaintiff than it otherwise would as rather than paying the entire debt, it reduces the payment by the amount the plaintiff owes to it.

   Overview of the Defence of Set-Off - Whitelaw Twining

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9. wt.ca › overview-of-the-defence-of-set-offOverview of the Defence of Set-Off - Whitelaw Twining

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   Sep 6, 2023 · Overview. Set-off is a legal principle that allows a defendant to reduce or offset amounts owing to a plaintiff by counter-claiming against the plaintiff. [1] Set-off results in the defendant paying less to the plaintiff than it otherwise would as rather than paying the entire debt, it reduces the payment by the amount the plaintiff owes to it. [2]