Contract Basics: Setoff Under Commercial Law: Presentation Materials | Practical Law
A PowerPoint presentation that can be used by counsel to train employees of a US company who routinely negotiate commercial contracts about the use of setoff (also known as set-off or offset) to reduce payments to counterparties. This presentation provides an overview of common law setoff and Uniform Commercial Code (UCC) deduction rights and discusses the format and use of contractual setoff provisions.