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" In all cases of mutual debts or mutual credits between the estate of a bankrupt and a creditor the account shall be stated and one debt shall be set off against the other, and the balance only shall be allowed or paid. "
The National Bankruptcy Register Reports: Containing All the Important ... - Página 687
1874
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The General Statutes of the Commonwealth of Massachusetts, Volume 1

Massachusetts - 1860 - 1126 páginas
...has been mutual credit given by the debtor and any other person, or mutual debts between them, the account between them shall be stated, and one debt set off against tie other, and the balance shall be allowed or paid on either side. SECT. 27. "When a creditor has...
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Reports of Cases at Law and in Chancery Argued and Determined in ..., Volume 269

Illinois. Supreme Court - 1916
...credits between the estate of a bankrupt and a creditor the account shall be stated and one debt shall be set off against the other and the balance, only, shall be allowed or paid. (b) A set-off or counter-claim shall not be allowed in favor of any debtor of the bankrupt which (1)...
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Cases Argued and Adjudged in the Supreme Court of the United States, Volume 18

United States. Supreme Court - 1874
...subject of setoff, is : " That in all cases of mutual debts, or mutual credits between the parties, the account between them shall be stated, and one debt...other, and the balance only shall be allowed or paid." It is clear that these claims are not mutual debts. They are not between the same parties. The notes...
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The Bankrupt Law of the United States, 1867,: With Notes, and a Collection ...

Edwin John James - 1867 - 325 páginas
...Debts and Mutual Credits. — In all cases of mutual debts or mutual credits between the parties, the account between them shall be stated, and one debt...claim in its nature not provable against the estate. This provision is the same as in the English Bankrupt Acts. The object of the enactment is, that where...
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The Merchants' Magazine and Commercial Review, Volume 56

1867
...mutual credits between the parties, the account between them shall be stated, and one debt set-off against the other, and the balance only shall be allowed...allowed of a claim in its nature not provable against ths estate: Provided, That no set-off shall be allowed in favor of any debtor to the bankrupt of a...
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An Analytical Digest of the Laws of the United States, Volume 2

Frederick Charles Brightly - 1869
...against the estate. (&) 41. In all cases of mutual debts or mutual credits between the parties, the thereof applied other,(c) and the balance only shall be allowed or paid ; but no set-off shall be allowed of a claim...
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Reports of Cases Argued and Determined in the Supreme Court of the ..., Volume 3

Abraham Lansing, New York (State). Supreme Court - 1871
...in all Winslow r. Bliss. cases of mutual debts, or mutual credits, between the parties, the amount between them shall be stated, and one debt set off'...other, and the balance only shall be allowed or paid." There was no balance against the defendant and his partner, but a small balance still in their favor,...
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Reports of Cases in Law and Equity in the Supreme Court of the State of New York

Oliver Lorenzo Barbour, New York (State). Supreme Court - 1871
...pursuance of the provisions of the act of congress. As that act provides in express terms that an account "shall be stated, and one debt set off against the other, and the balance only allowed or paid," no fund can be created under this provision where there are mutual credits, except...
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Judgments Delivered in the Courts of the United States for the ..., Volume 1

United States. District Court (Massachusetts), John Lowell - 1872
...creditor of the estate, that " in all cases of mutual debts or mutual credits between the parties, the account between them shall be stated, and one debt...other, and the balance only shall be allowed or paid." After some diversity of opinion, the leading case of Rose v. Hart, 8 Taunt. 499, appears to have been...
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The General Statutes of the Commonwealth of Massachusetts: Enacted December ...

Massachusetts - 1873 - 1126 páginas
...has been mutual credit given by the debtor and any other person, or mutual debts between them, the account between them shall be stated, and one debt set off against the other, and the balance shall be allowed or paid on either side. SECT. 27. When a creditor has a mortgage or pledge of real...
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