Setoff

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Related to set back: gloating, follow through

Setoff

Money held on behalf of a borrower that may be applied to repay the loan, but usually without the permission of the borrower.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Setoff

1. The ability of a debtor to reduce the amount of one's debt by an amount the creditor owes to the debtor. Thus, if a debtor owes a creditor $20,000 but the creditor owes the debtor $5,000 in an unrelated matter, setoff allows the debtor effectively to owe only $15,000.

2. In banking, the right of a bank to seize a debtor's account balance held at that bank if a debt is in or near default. Some jurisdictions limit the right of setoff; for example, the United States does not allow it to apply for commercial loans or credit card debt.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
I've seen sizing dies with problems, and enough times to say, "What's next?" Generally, the problems are from inadequate capacity to set back the case shoulder.
"Progressive struggles throughout the world have been set back by the attacks in the USA.
Coaching point: Any time the center falls forward after the snap, his weight had not been set back. If he snaps the ball too high, he had probably not bent his knees enough.
Pat Buchanan: Remembered primarily for giving a convention address so vicious and negative that it set back hate speech a full six months, Buchanan steadfastly refuses to compromise his lack of ideals, seeking the Presidency as a Pit Bully pulpit.
One can only hope that this symbol miscue will not set back the environmental cause or result in decreased book sales.
It is well set back from the road and has a good-sized, well-maintained garden at the front and back.
"It would not only set back the game, it would set back the anti-racist initiative."
With a commanding position at the junction of Valley Drive and Durham Road, in Low Fell, Gateshead, the imposing Stanley Thompson-built property has a corner plot and is set back from the road.
The decision set back hopes of stemming the crisis after six days of violence that has left 38 people dead and destabilised the country.
That is called "set back." We have set back the shoulder on this case .003".
This set back just spurred Marine to greater things and Parle (60 mins) and a third from Shaun Tuck on 74 minutes capped a fine display.