setoff
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
“JPMorgan asserts, and the debtors admit, that ‘by virtue of such setoff rights, such funds may be subject to liens in favor of’” JPMorgan, it said.
From BusinessWeek • Nov. 1, 2011
Peck said that bankruptcy law requires mutuality, meaning that setoff only exists between the same two companies.
From BusinessWeek • Oct. 6, 2011
Even though a triangular setoff may be permissible under state law, it doesn’t work in bankruptcy because “the Bankruptcy Code imposes its own strict requirements,” Peck said.
From BusinessWeek • Oct. 6, 2011
A setoff to recover debt owing to an affiliate isn’t allowed by the language of the statute, Peck said.
From BusinessWeek • Oct. 6, 2011
Three weeks later I received a letter announcing that I had a two-year setoff until seeing them again.
From "Hole in My Life" by Jack Gantos
