set-off claim

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• set-off — index counterclaim, drawback Burton s Legal Thesaurus. William C. Burton. 2006 set off …   Law dictionary

• Set-off — n. [Set + off.] 1. That which is set off against another thing; an offset. [1913 Webster] I do not contemplate such a heroine as a set off to the many sins imputed to me as committed against woman. D. Jerrold. [1913 Webster] 2. That which is use …   The Collaborative International Dictionary of English

• set–off — / set ˌȯf/ n 1: the reduction or discharge of a debt by setting against it a claim in favor of the debtor; specif: the reduction or discharge of a party s debt or claim by an assertion of another claim arising out of another transaction or cause …   Law dictionary

• Set-off — can refer to the following:* Set off (law), the reduction of a claim by deducting the amount of a valid countervailing claim* Set off (architecture), the horizontal line shown on a floorplan indicating a reduced wall thickness, and consequently… …   Wikipedia

• set|off — «SEHT F, OF», noun. 1. a thing used to set off or adorn; ornament; decoration. SYNONYM(S): trimming. 2. something that counterbalances or makes up for something else; compensation; offset. 3. a) …   Useful english dictionary

• set-off — setˈ off noun 1. A claim set against another 2. A crossclaim which partly offsets the original claim 3. A counterbalance 4. An ornament 5. A contrast, foil 6. A setting forth 7. An offset (architecture and printing) • • • …   Useful english dictionary

• set-off — the ability to discharge or reduce a debt by applying a counter claim between the same parties. For example, a bank which has lent money to a debtor may attempt to satisfy some or all of the loan by seizing the debtor s deposits at the bank… …   Glossary of Bankruptcy

• Set-off (law) — In law, a set off is a statutory defence to the whole or to a portion of a plaintiff s claim. It had no existence under the English common law, being created by 2 Geo. II c. 22 for the relief of insolvent debtors, although set off was recognised… …   Wikipedia

• set-off — A counter claim demand which defendant holds against plaintiff, arising out of a transaction extrinsic of plaintiffs cause of action. Remedy employed by defendant to discharge or reduce plaintiffs demand by an opposite one arising from… …   Black's law dictionary

• set-off — (1) In general, the legal right to reduce the amount owed by one party to another party by the sum that the second party also owes to the first party. (2) The confiscation of a deposits held by a borrower to offset some or all of the amounts owed …   Financial and business terms

• set-off — n. 1. Decoration, ornament, embellishment, adornment. 2. Off set. 3. Counter claim, counter balance, equivalent. 4. (Law.) Counter claim, cross debt, cross demand …   New dictionary of synonyms