What are the requirements for a set off?
Ontario, Canada
The following excerpt is from Carevest Capital Inc. v. Memoirs Estates Inc., 2008 CanLII 56000 (ON SC):
Legal set off requires that there be two debts owing from either party to the other for liquidated sums or at least money demands that can be ascertained with certainty at the time of pleading (Telford v. Holt, 1987 CanLII 18 (SCC), [1987] 2 S.C.R. 193).
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Does the requirement of uberrima fides apply when the parties have entered into a separation agreement requiring the parties to pay support for the children of the marriage? (Ontario, Canada)
Does the requirement that the Class Members raise common issues become entwined with the requirement of 5(1)(d) that a class proceeding would be a preferable procedure for resolution of the common issues? (Ontario, Canada)
What is the standard of care required by a doctor to treat a patient who is suffering from multiple sclerosis? (Ontario, Canada)
When a joint contribution is matched and fair, when the contributions of the parties are matched, is one party required to pay back the value of the benefit received? (Ontario, Canada)
What is the current state of the law on requiring an affidavit from the author of a letter? (Ontario, Canada)
Is there a requirement for the defence to disclose decisions on whether to continue to defend against the Crown in a sexual assault case? (Ontario, Canada)
What is required to complete a mortgage advance under TD Waterhouse's Arm's Length Mortgage Agreement? (Ontario, Canada)
Is there any genuine issue requiring a trial? (Ontario, Canada)
Can an arbitrator be required as a matter of law to "give full effect" to a conviction? (Ontario, Canada)
Does a partial execution of a renewal agreement require the payment of principal and interest to be blended? (Ontario, Canada)
