New York § 192 - 192Set-off of mutual debts or credits
Full text of New York New York Consolidated Laws § 192 — 192Set-off of mutual debts or credits, with citation guidance and answers to common questions.
§ 192. 192Set-off of mutual debts or credits
§ 192. Set-off of mutual debts or credits. Where mutual credit has been given by any debtor, except a debtor proceeding under the fifth article of this chapter, and any other person, or mutual debts have subsisted between such debtor and any other person, the trustees may set off such credits or debts, and pay the proportion or receive the balance due. But no set-off shall be allowed of any claim or debt, which would not have been entitled to a dividend as hereinbefore directed.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 192
What does New York Consolidated Laws § 192 cover?
Section 192 ("192Set-off of mutual debts or credits") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 192?
A common citation format is "New York Consolidated Laws § 192" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 192 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.