What is the legal set-off for a debtor to be set off?
Ontario, Canada
The following excerpt is from Montel Inc. v. Kipawa Sales & Services Inc., 2014 ONSC 83 (CanLII):
Legal set-off is narrow because “debt”, means a liquidated sum of money demand that can be ascertained with certainty and the claims must be mutually enforceable: Telford v. Holt, 1987 CanLII 18 (SCC), [1987] 2 S.C.R. 193.
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