WebOffset Verb. To set off; to place over against; to balance; as, to offset one account or charge against another. ... Offset Verb. To form an offset in, as in a wall, rod, pipe, etc. Drift Noun. The difference between the size of a bolt and the hole into which it is driven, or between the circumference of a hoop and that of the mast on which it ... WebJul 5, 2024 · Black’s Law Dictionary gives as a definition of the noun setoff “A debtor’s right to reduce the amount of a debt by any sum the creditor owes the debtor; the counterbalancing sum owed by the creditor.”. It’s easy to find the variant spellings set-off and set off, but use setoff. The noun offset is used in the United States to mean the ...
Setback vs. Offset - What
WebApr 8, 2024 · Background. In our property and casualty insurance world very often we use a term called ‘offset’ which is widely used for modeling rate (count/exposure) such as the number of claims per exposure unit. This helps the model to transform the response variable from rate to count keeping coefficient as 1 by using simple algebra. WebInsolvency set-off. The rules of insolvency set-off are mandatory and may not be varied by contract. Where a creditor proves in a liquidation, administration or bankruptcy, an account must be taken of the mutual dealings between the creditor and either the company in liquidation or administration or the bankrupt.The sums due from one party must be set … grammys main show
Revisiting “Setoff” and “Offset” - Adams on Contract Drafting
Weboffset. 1) n. also called a "setoff," the deduction by a debtor from a claim or demand of a debt or obligation. Such an offset is based upon a counterclaim against the party making the original claim. Example: Harry Hardhead makes a claim or files a lawsuit asking for $20,000 from Danny Debtor as the final payment in purchase of a restaurant ... WebFeb 22, 2024 · Synonym for offset Onset: (is like the word began.... about when something BEGAN usually unpleasant) His illness began 2 days ago. The ONSET of his illness was 2 days ago. OFFset: the name of an American rapper ( married to Cardi B) The soccer team’s wins offset their losses. Offset= balanced out or makes up for They print this newspaper … WebFeb 9, 2014 · Here’s part of the entry for setoff in Garner’s Dictionary of Legal Usage: setoff, n., = (1) a counterdemand, generally of a liquidated debt growing out of an independent transaction for which a lawsuit might be maintained; or (2) the general right of a debtor to … china systems technology corporation