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par compensation avec toutes sommes dues en compte-courant

English translation: by way of set-off against all sums owing on the shareholder current account

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:par compensation avec toutes sommes dues en compte-courant
English translation:by way of set-off against all sums owing on the shareholder current account
Entered by: Veronica Coquard
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09:24 Nov 7, 2007
French to English translations [PRO]
Law/Patents - Law: Patents, Trademarks, Copyright
French term or phrase: par compensation avec toutes sommes dues en compte-courant
Last question of the day...

The best translation I could come up with is this: "by compensation with all sums due on the current account" but my own sentence makes no sense to me.

Can anyone help? Here is the sentence:

Paiement par la cessionnaire à la cédante à la signature du présent acte, d’une somme de X EUROS (X €), dont il lui est donnée acte par les présentes, par compensation avec toutes sommes dues en compte-courant d’associé inscrit au nom de la cessionnaire dans les comptes de la cédante.

Thank you all in advance!
Veronica Coquard
France
Local time: 04:30
by way of set-off against all sums owing on the shareholder current account
Explanation:
Or in the US, "by setting it off against all amounts outstanding on the shareholder loan account."
Selected response from:

Attorney DC Bar
Local time: 04:30
Grading comment
Thanks again, rufinus!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4by way of set-off against all sums owing on the shareholder current accountAttorney DC Bar


  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
by way of set-off against all sums owing on the shareholder current account


Explanation:
Or in the US, "by setting it off against all amounts outstanding on the shareholder loan account."

Attorney DC Bar
Local time: 04:30
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 18
Grading comment
Thanks again, rufinus!
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