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Part I Introduction, 2 General Aspects of Set-Off

From: Set-Off in Arbitration and Commercial Transactions

Pascal Pichonnaz, Louise Gullifer

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 15 August 2022

Subject(s):
Automatic set-off — Judicial set-off — Close-out netting — Cross-claims
2.01 Before discussing issues of jurisdiction and applicable law,1 it is important to set out some general points. We will therefore first discuss the notion of set-off and explain the nomenclature we have used throughout the book (Section A). In the second section, we will address the issue of set-off by agreement, which is important in practice but does not necessarily cover situations as soon as reciprocal claims derive from different contracts or from different causes of action (Section B). We will then briefly present the various ways in which set-off...
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