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set off |
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set off To deduct debts from each other.Oftentimes defaulting debtors will claim that they have not paid their obligations because of a right of setoff against injuries suffered as a result of wrongdoing by the creditor.Lenders with bank deposits in the name of their borrower may set off the bank account against the mortgage debt if there is a default. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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