WordNet-Online
Free dictionary and thesaurus of English. Definitions, synonyms, antonyms and more...
Hint: double-click any word to get it searched!

Google
 

right of offset

 

Definitions from WordNet

Noun right of offset has 1 sense
  1. right of offset - (banking) the legal right of a bank to seize deposited funds to cover a loan that is in default
    --1 is a kind of
    legal right

Definitions from the Web

Right of Offset

Noun:

A legal right that allows a creditor to seize funds from a debtor's account to fulfill a debt owed by the debtor.

Example sentence: The bank exercised its right of offset and withdrew funds from the customer's account to cover the outstanding loan balance.

Related products on Amazon

Verb:

To exercise the legal right to seize funds from a debtor's account to satisfy a debt.

Example sentence: The lender decided to right of offset the outstanding debt and recovered the amount owed.

Related products on Amazon

Adjective:

Pertaining to the legal authority granted to a creditor to offset debts owed by a debtor.

Example sentence: The bank informed the customer about their right of offset policy during the loan application process.

Related products on Amazon
right hand right hander right hemisphere right now right of right of election right of entry right of first publication right of offset right of privacy right of re-entry right of search right of way right off the bat right on right reasons right s

Sponsored (shop thru our affiliate link to help maintain this site):

WordNet-Online
Home | Free dictionary software | Copyright notice | Contact us | Network & desktop search | Search My Network | LAN Find | Reminder software | Software downloads | WordNet dictionary | Automotive thesaurus