setoff


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offset

offset, 3
offset, 2
1. A horizontal ledge on a wall (or other member or construction), marking a decrease in its thickness above; also called a watertable.
2. A bend in a pipe.
3. A change in the direction of a pipeline (other than 90°), e.g., by a combination of elbows or bends, which brings one section of the pipe out of line with but into a line parallel to another section.
4. A short line perpendicular to a surveyed line, measured to a line
References in periodicals archive ?
Thanks to Debtor & Creditor Law section 151, not even a lien can interfere with prepayment, because prepayment establishes a setoff opportunity, which is senior to any lien.
First, they contend that they are entitled to a full setoff under Section 12 of the NAIC act for any sums otherwise paid with respect to a "claim." Second, they argue that the insured should be required to exhaust any other available insurance first in light of the definition of "covered claim" in the act.
Triangular setoff expands setoff rights by contract to permit affiliated entities to setoff the obligation of one of the affiliates to a debtor to reduce the debtor's indebtedness owing to another affiliate.
may be set off to any one or more of the parties, with his or their consent, upon payment by him or them to any one or more of the others of such amounts of money as the commissioners award to make the partition just and equal.' A court is free to use its 14 powers as the sole means of resolving a partition action; the court also can use setoffs in combination with other means of partition to end the case.
This is known as a right of setoff. If you didn't owe them, this transaction is unlawful and should be reversed.
On the verge of insolvency, the Esfahan Steel Company (ESCO) is seeking to lighten its debt burden by reaching a setoff agreement with the government, according to the company's manager, Ahmad Sadeqi.
Article 40 of the EBL provides for the setoff of mutual debts in determining whether the creditor owes money to the administrator or the administrator owes money to the creditor.
While a franchisee now has the express right to receive fair market value for its franchised business if the franchisor acted unlawfully--a remedy far superior to the repurchase of inventory required of franchisors in limited circumstances under the existing CFRA--that is not an unfair result, is consistent with damages a franchisee may recover on a contract claim for the same unlawful action, and remains subject to the franchisor's setoff rights.
New stops have been installed and services will make those stops their setoff point.
The comic book super villain Brainiac may be the main villain in the upcoming movie "Justice League." According to a report by (http://www.latino-review.com/news/huge-dc-movie-news-update-braniac-justice-league-suicide-squad) Latino Review , the kryptonian beacon that Superman setoff in the movie "Man of Steel" was also heard by the villain and this attracts him to earth.