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====Equitable set-off==== | ====Equitable set-off==== | ||
This is available to a debtor whose cross-claim arises from the same transaction (or a closely related transaction) as the original debt. Under this device a debtor simply deducts | This is available to a debtor whose cross-claim arises from the same transaction (or a closely related transaction) as the original debt. Under this device a debtor simply deducts its claim from the debt it owes and tenders any balance to the creditor. The sums in question must be due or, if representing unliquidated damages, a [[good faith]] and reasonable assessment of the loss. | ||
====[[Banker’s set-off]]==== | ====[[Banker’s set-off]]==== |