mutuality of debts

mutuality of debts. Bankruptcy. For purposes of setoff, the condition in which debts are owed between parties acting in the same capacity, even though the debts are not of the same character and did not arise out of the same transaction. [Cases: Bankruptcy 2674.]

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词条贡献者

译者蒋毅，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与破产与资产重组相关的法律文件。