Set-off
By: S. R. Derham
About This Book
This is a completely revised, updated, and much enlarged edition of Derham's Set-Off which, when first published in 1987, rapidly established itself as one of the leading works on the subject. The purpose of the second edition, as the first edition, is to set out the principles of the law ofset-off and related doctrines, such as the banker's right to combine accounts and the rule in Cherry v Boultbee. A right of Set-Off is particularly important in the event of the insolvancy of one of the parties to mutual dealings resulting in cross-demands. In effect it enables the s9olvent party toobtain payment in full for his claim against the insolvent party in the form of a deduction from his liability, rather than being confined to proof as an unsecured creditor in the bankruptcy or winding up of the insolvent party. For this reason considerable emphasis is placed on the application ofthe law of set-off to insolvencies. In addition, though, set-off between solvent parties (particularly equitable set-offs) receives detailed treatment. The effect of an assignment of a debt and the appointment of a receiver are also considered, as well as diverse other questions such as whether asurety is entitled to the benefit of a right of set-off available to the principal debtor against the creditor.This edition is once again based primarily upton English case and staute law but also includes extensive references to Australian law, New Zealand and Irish law, and cases from a variety of jurisdictions involving international and cross-border set-off.
AI Overview
The book "Set-off" by S. R. Derham is a comprehensive treatise on the legal principles governing set-off, a concept in law that involves the offsetting of mutual debts or claims between parties. Here is a detailed overview of the book:
Key Themes
- Definition and Scope: The book begins with a definition of set-off, explaining that it is the setting of money cross-claims against each other to produce a balance.
- Legal Principles: It delves into the legal principles governing set-off, including the conditions under which set-off can be applied, the types of claims that can be set off, and the procedural requirements.
- Banking and Finance: Given its relevance to banking and finance, the book covers how set-off operates in these sectors, including its application in commercial transactions and financial disputes.
Plot Summary
The book does not have a narrative plot but rather a structured analysis of the legal concepts surrounding set-off. It is divided into chapters that explore different aspects of set-off, such as its historical development, its application in various jurisdictions, and its implications for legal practice.
Critical Reception
- First Edition (1987): The first edition of the book was well-received for its comprehensive coverage of the subject. Dr. Derham explained in the Preface that most of the chapters had originated from his earlier work, indicating a thorough and authoritative approach.
- Subsequent Editions: The book has been updated with subsequent editions, including a third edition, which continues to be an essential resource for students of law and professionals alike.
- Authoritative Commentary: The book is described as an authoritative commentary on the principles governing the law of set-off, making it an essential purchase for banking, finance, and legal professionals.
Editions and Availability
- Third Edition: The third edition of the book is available, offering detailed insights into the legal principles governing set-off.
- Softcover and Hardcover: The book is available in both softcover and hardback formats, with the second edition being available in softcover.
In summary, "Set-off" by S. R. Derham is a seminal work in the field of law, providing a thorough analysis of the legal principles governing set-off. Its critical reception has been positive, with each edition building on the previous one to offer a comprehensive resource for legal professionals and students.