A right of set-off is a debtor's legal right,by contract or otherwise,to settle or otherwise eliminate all or a portion of an amount due to a creditor by applying against that amount an amount due from the creditor.

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A right of set-off allows a debtor to offset an amount owed to a creditor by applying against that amount an amount owed to the debtor by the same creditor. This can be a contractual or legal right.

A Right of Set-Off Is a Debtor's Legal Right,by Contract