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Definition of Right of offset
1. Noun. (banking) the legal right of a bank to seize deposited funds to cover a loan that is in default.
Lexicographical Neighbors of Right Of Offset
Literary usage of Right of offset
Below you will find example usage of this term as found in modern and/or classical literature:
1. A Treatise on the Bankruptcy Law of the United States by Harold Remington (1915)
"... it was received before the bankruptcy and without knowledge of the impending
bankruptcy.8 § 1184. Supervening Insolvency Destroying Right of Offset. ..."
2. Reports of Cases Heard and Determined in the Supreme Court of the State of by Marcus Tullius Hun, New York (State). Supreme Court (1874)
"The plaintiffs in the judgment against Bovee, had no right of offset, and hence,
plaintiff acquired none from them. Having had none at the time of the ..."
3. The Law and Practice in Bankruptcy Under the National Bankruptcy Act of 1898 by William Miller Collier, William Horace Hotchkiss, Frank Bixby Gilbert (1914)
"... and further held that although possibly had the bankrupt stood upon its right
of offset, that right might have been available to them, yet when they ..."
4. Merchants' Magazine and Commercial Review by William B. Dana (1866)
"bares is In he included in the valuation of Ihe personal property of the shareholder,
his right of offset for debt- will ..."
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