Set Off - Law Dictionary Search Results
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offset : a claim or amount that reduces or balances another claim or amount : set-off [the creditor's own debt was an ] ;also : the reduction or balance achieved by such a claim [ȯf-set] vt : to balance, reduce, or calculate by reference to another amount [ the debt against a credit] ...
benefit
benefit 1 : something that provides an advantage or gain ;specif : an enhancement of property value, enjoyment of facilities, or increase in general prosperity arising from a public improvement general benefit : a benefit to the community at large resulting from a public improvement special benefit : a benefit from a public improvement that directly enhances the value of particular property and is not shared by the community at large NOTE: In proceedings for a partial taking for the purpose of a public improvement, the condemning authority may use a special benefit to the remaining land as a set-off against the landowner's damages for the taking. 2 in the civil law of Louisiana : a right esp. that serves to limit a person's liability benefit of dis·cus·sion : the right of a surety being sued to compel the suing creditor to sue the principal first benefit of di·vi·sion : the right of a surety being sued to compel the suing creditor to also sue the cosureti...
Lien
Lien [answering to the tacita hypotheca of the Civil Law], a right in one man to retain that which is in his possession belonging to another, until certain demands of the person in possession are satisfied. It is neither a jus in re, nor a jus ad rem--i.e., it is not a right of property in the thing itself, or right of action to the thing itself.It is either particular, as a right to retain a thing for some charge or claim growing out of, or connected with, the identical thing; or general, as a right to retain a thing not only for such charges or claims, but also for a general balance of accounts between the parties in respect to other dealings of the like nature.General and particular liens may arise: (1) by an express contract; (2) by an implied contract, resulting from the usage of trade, or the manner of dealing between parties. General lines are not favoured in law, but some judicially recognized general lines are bankers', solicitors', factors', stockbrokers'. See Halsb. L.E., ti...
Special defence
Special defence, in a county Court. A defendant must give notice to the plaintiff when he intends to rely on a defence of set-off or counterclaim, infancy, coverture, statute of limitations, bankruptcy, or equitable defence. for example, he must specially plead the Statute of Frauds, and if he fails to do so in one action he may be estopped from doing so in a subsequent action, Humphries v. Humphries, (1910) 2 KB 531....
Shire
Shire [fr. scyran, Sax., to divide], a part or portion of the kingdom; called also a county [comitatus, Lat.]. King Alfred first divided this country into satrapi', now called shires; shires into centuri', now called hundreds; and these again into decenn', now called tithings, Leg. Alfred. See Bromption, 956.A county in Great Britain (esp England), originally made up of many hundred but later consisting of larger divisions set off by metes and bounds, Black's Law Dictionary, 7th Edn., p. 1383....
Re-compensation
Re-compensation. Where a party sues for a debt, and the defendant pleads compensation, i.e., set-off, the plaintiff may allege a compensation on his part, and this is called a re-compensation, Scots Law Term....
Period of detention
Period of detention, undergone by the accused to be set off against the sentence of imprisonment. Code of Criminal Procedure, 1973 (2 of 1974), s. 265-9. See also Criminal Law (Amendment) Act, 2005 (2 of 2006), s. 4.The expression 'period of detention' in s. 428, Criminal Procedure Code, 1973 does not include the detention under preventive detention laws such as the Preventive Detention Act or MISA. Champalal Poonjaji Shah v. State of Maharashtra, AIR 1982 SC 791: (1982) 1 SCC 507: (1982) 3 SCR 61....
Mutual debts
Mutual debts, money due on both sides between two persons.-See SET-OFF; and as to mutual credits, debts, or other mutual dealings between a debtor afterwards becoming bankrupt and a person proving a debt against him, see s.31 of the Bankruptcy Act, 1914, and Eberle's Hotel Co. v. Jonas, (1887) 18 QB 459....
Mutual dealing
Mutual dealing, Mutual Credit or mutual dealings under s. 46, Provincial Insolvency Act, means reciprocal demands which must be naturally terminated in a debt. In a case where there are reciprocal demands available by one party against the other in the same capacity, it is a clear case of mutual dealings, in which a set-off is a matter of course, H. Naik v. Panchanan Das, ILR 1952 Cut 307; see also Aiyar's Judicial Dictionary, 11th Edn., 1992, p. 782....
Mutual credit
Mutual credit, the words 'Mutual Credit' extends the right of set-off to cases where the party receiving the credit is not debtor in praesenti to him who gives the credit...
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