New York § 192 Set-off of mutual debts or credits

New York Statutes

§ 192 — Set-off of mutual debts or credits

New York § 192

Law DCDDebtor & Creditor

Art. 7Trustees For Insolvent and Imprisoned Debtors

This text of New York § 192 (Set-off of mutual debts or credits) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Debtor & Creditor § 192 (2026).

Text

  § 192. Set-off of mutual debts or credits. Where mutual credit has\nbeen given by any debtor, except a debtor proceeding under the fifth\narticle of this chapter, and any other person, or mutual debts have\nsubsisted between such debtor and any other person, the trustees may set\noff such credits or debts, and pay the proportion or receive the balance\ndue. But no set-off shall be allowed of any claim or debt, which would\nnot have been entitled to a dividend as hereinbefore directed.\n

Free access — add to your briefcase to read the full text and ask questions with AI

§ 192. Set-off of mutual debts or credits. Where mutual credit has\nbeen given by any debtor, except a debtor proceeding under the fifth\narticle of this chapter, and any other person, or mutual debts have\nsubsisted between such debtor and any other person, the trustees may set\noff such credits or debts, and pay the proportion or receive the balance\ndue. But no set-off shall be allowed of any claim or debt, which would\nnot have been entitled to a dividend as hereinbefore directed.\n