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In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
Set-off may refer to: Set-off (architecture), horizontal line shown on a floorplan indicating a reduced wall thickness, and consequently the part of the thicker portion appears projecting before the thinner; Set-off (law), reduction of a claim by deducting the amount of a valid countervailing claim
The following list shows where law schools set the 50% mark for an individual class subject to the curve. Because not all classes are curved and because professors still have discretion within the curve's ranges, where a law school sets its curve is not necessarily revealing of that school's average student GPA (whether after 1L or upon ...
At common law, this was the name of a mixed action (springing from the earlier personal action of ejectione firmae) which lay for the recovery of the possession of land, and for damages for the unlawful detention of its possession. The action was highly fictitious, being in theory only for the recovery of a term for years, and brought by a ...
Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior, [1] with its precise definition a matter of longstanding debate. [ 2 ] [ 3 ] [ 4 ] It has been variously described as a science [ 5 ] [ 6 ] and as the art of justice.
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The banker's right to combine accounts has been recognised at appellate level by the courts of various other common law jurisdictions, including Australia, [4] Canada, [7] Guyana [12] and Singapore. [11] However, there does not appear to be any corresponding general right in civil law jurisdictions outside of the conventional right of set-off.
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