Glossary
What is Set-off?
The extinction of two mutual and matured debts to the extent of the smaller one.
A declaration of set-off is a unilateral expression of intent and takes effect the moment it reaches the other party. But set-off cannot be raised against certain claims arising in tort, or against claims for alimony.
Related terms
This definition is for general information; what the term means in your own file may differ. Let us assess your case together.