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4 Substantive Equitable Set-Off

From: Derham on the Law of Set-Off (4th Edition)

Rory Derham

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 02 June 2023

Set-off — Contractual set-off — Cross-claims — Debt — Mutuality of claims
4.01 There is a substantive1 form of equitable set-off which is not confined to mutual debts,2 and which has attracted considerable attention in recent years. It is the most elusive, but at the same time the most important, of the various forms of equitable set-off. 4.02 The seminal authority on this form of equitable set-off is Lord Cottenham's judgment in Rawson v Samuel.3 The Lord Chancellor said that the mere existence of cross-demands is not sufficient to give rise to a set-off. Rather, he said that the applicant for relief must show some good equitable...
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