https://www.taxtmi.com/caselaws?id=96836 Where parties assert set-off between a debt owed to one firm-member and a joint and several liability owed by that member as part of a different firm, mutuality is satisfied because a joint promise operates as joint and several and therefore as a several debt of each promisor; consequently a several obligor may set off a debt due to it against the joint and several liability owed by it. The legal reasoning applies partnership and joint-promise principles to permit set-off where the right and character of the parties coincide, and the claim to set off is allowed in favour of the applicant firm. en-us Mon, 23 Sep 1940 00:00:00 +0530 Wed, 11 Jan 2012 14:46:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96836 Where parties assert set-off between a debt owed to one firm-member and a joint and several liability owed by that member as part of a different firm, mutuality is satisfied because a joint promise operates as joint and several and therefore as a several debt of each promisor; consequently a several obligor may set off a debt due to it against the joint and several liability owed by it. The legal reasoning applies partnership and joint-promise principles to permit set-off where the right and character of the parties coincide, and the claim to set off is allowed in favour of the applicant firm. Case-Laws Companies Law Mon, 23 Sep 1940 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96836