The Law of Set-off

"The Law of Set-off" by S. R. Derham is a comprehensive and authoritative treatise on the principles governing the law of set-off. Here is a detailed overview of the book, including key themes, plot summary, and critical reception:

Key Themes

1. Authoritative Commentary: The book provides an authoritative commentary on the principles governing the law of set-off, making it an essential purchase for banking, finance, and insolvency lawyers worldwide.
2. English and Australian Perspectives: The book delves into the principles of set-off from both English and Australian perspectives, offering a robust understanding of the field.
3. Impact of Insolvency Rules: The fifth edition of the book includes analysis of the impact of the Insolvency (England and Wales) Rules 2016 and better consideration of the meaning of mutuality and the concept of dealings.
4. Significant Judicial Decisions: The book includes analysis of significant decisions by the Supreme Court, such as Re Kaupthing Singer 2012, Belmont Park Investments v BNY Corporate Trustee Services 2012, and Re Nortel GmbH 2014, among others.

Plot Summary

The book covers the fundamental principles of set-off, including its application in various legal contexts. It provides a detailed examination of the rule in Cherry v Boultbee, the impact of fraud on insolvency law, and the significance of equitable set-off, as seen in Geldof Metaalconstructie v Simon Carves 2010.

Critical Reception

1. Established Authority: The book has long established itself as a leading authority in the developing area of law, with each edition bringing significant updates and analyses.
2. Robust Understanding: The book is praised for providing a robust understanding of the field, making it essential for banking, finance, and insolvency lawyers.
3. Comprehensive Coverage: The comprehensive coverage of the law of set-off, including both English and Australian perspectives, makes it a valuable resource for legal professionals.

Editions and Updates

The book has undergone several editions, with the most recent fifth edition being published. Each edition has included significant updates, reflecting changes in the legal landscape and new judicial decisions.

Historical Context

The first edition of the book appeared in 1987, originating from Dr. Derham's Cambridge Ph.D. thesis. The second edition, published in 1996, was nearly twice the length of the first edition and included additional chapters and analyses.

In summary, "The Law of Set-off" by S. R. Derham is a seminal work in the field of commercial law, providing an authoritative and comprehensive commentary on the principles governing set-off. Its critical reception highlights its importance as a leading authority in the legal community.