Glossary entry

English term or phrase:

offset or assign claims against outstanding accounts of......

Spanish translation:

compensar o ceder créditos con cargo a cuentas pendientes de

Added to glossary by Elena Marzán
Apr 9, 2010 13:20
14 yrs ago
16 viewers *
English term

offset or assign claims against outstanding accounts of......

English to Spanish Law/Patents Law: Contract(s) commercial agency contract
Please help with the above phrase in the following context:

The Agent is not entitled to offset or assign claims against outstanding accounts of Munksjö Paper GmbH of Munksjö Paper S.A. nor transfer ownership of any of the rights or individual benefits or claims resulting from this Agreement, nor claim a lien on any goods belonging to Munksjö Paper GmbH or to Munksjö Paper S.A.
Change log

Jul 7, 2010 16:42: Elena Marzán Created KOG entry

Discussion

felicianomadrid Apr 10, 2010:
Hay que tener cuidado, "offset" en Derecho no es compensar sino presentar un contrademanda o reconvención frente otra demanda.



-offset 1) n. also called a "setoff," the deduction by a debtor from a claim or demand of a debt or obligation. Such an offset is based upon a counterclaim against the party making the original claim. Example: Harry Hardhead makes a claim or files a lawsuit asking for $20,000 from Danny Debtor as the final payment in purchase of a restaurant; as part of his defense Debtor claims an offset of $10,000 for alleged funds owed by Hardhead for repairs Debtor made on property owned by Hardhead, thus reducing the claim of Hardhead to $10,000. 2) v. to counterclaim an alleged debt owed by a claimant to reduce the demand of that claimant. (See: counterclaim, defense, setoff)

Proposed translations

+3
1 hr
Selected

compensar o ceder créditos con cargo a cuentas pendientes de

offset- compensar, deducir, contrarrestar.
assign- transferir, ceder
assignment of claims- Authorization by a contractor to a customer to make the payments generated under a contract directly to a third party (such as a bank).
Peer comment(s):

agree Richard Boulter : Perfect. This is exactly what I use for the Query terms, and the Query terms are my translation from these Spanish ones for the other direction. Ref's: Javier Becerra's, Espasa's and Henry St. Dahl's bilingual legal dictionaries.
19 mins
Thanks a lot Richard :)
agree Mariana Londono
33 mins
gracias Mari :)
agree LexisPlus
1 hr
Gracias! :)
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4 KudoZ points awarded for this answer. Comment: "I think this is the best answer in this context. Thank you"
1 day 1 hr

Presentar una contrademanda o ceder cualquier reclamación de deudas pendientes

Hay que tener cuidado, "offset" en Derecho no es compensar sino presentar un contrademanda o reconveción frente otra demanda.

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Note added at 1 día1 hora (2010-04-10 15:16:58 GMT)
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"v. to counterclaim an alleged debt owed by a claimant to reduce the demand of that claimant. (See: counterclaim, defense, setoff)"

http://legal-dictionary.thefreedictionary.com/setoff
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