set-off

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 transaction which is extrinsic to plaintiffs cause of action. Edmonds v. Stratton, Mo.App., 457 S.W.2d 228, 232.
A claim filed by a defendant against the plaintiff when sued and in which he seeks to cancel the amount due from him or to recover an amount in excess of the plaintiffs claim against him. In equity practice it is commenced by a declaration in set-off, though under rules practice (which merged law and equity) it has been displaced by the counterclaim. Fed.R.Civil P. 13. The equitable right to cancel or offset mutual debts or cross demands, commonly used by a bank in reducing a customer's checking or other deposit account in satisfaction of a debt the customer owes the bank. For the distinction between set-off and recoupment, see recoupment.
See also counterclaim

Black's law dictionary. . 1990.

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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 — vt: to reduce or discharge by set off: offset Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. set off …   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 — / 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 — «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 — ► set off 1) begin a journey. 2) cause (a bomb or alarm) to go off. 3) serve as decorative embellishment to. Main Entry: ↑set …   English terms 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 — verb 1. put in motion or move to act (Freq. 4) trigger a reaction actuate the circuits • Syn: ↑trip, ↑actuate, ↑trigger, ↑activate, ↑spark off, ↑ …   Useful english dictionary

  • set off — Synonyms and related words: actuate, adjoin, adorn, allocate, allot, analogize, analyze, anatomize, appoint, appropriate to, array, assign, assign to, assimilate, atomize, atone for, backfire, balance, be at cross purposes, be off, be opposed to …   Moby Thesaurus

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