Question

Difference between right of set off and right of appropriation

Answer 1

Explanation:

Both of these terms relate to banks.

In right of appropriation, when a debtor has several debts with a creditor(bank) with the appropriation of payments made by the debtor to the creditor. Here the creditor can define where payments to be allocated

In right of set off, it is the right of the bank to combine the two accounts of the same person when to cover a loan default. Here bank can decide where to charge payment

Answer 2

These the represent the rights of banker.

Explanation:

• Right offset is a mutual claim of a debtor and creditors that are adjusted together and only the remaining amount that is due is payable.

• In the right of appropriation if the customer has more than one loan account he can direct repayment of the loan as credit into other accounts if there is no comment from the customer. The banker has the right to appropriate according to his choice.

Learn more about the difference between right of set off and right of appropriation.

• brainly.in/question/13161423 answered by nidaeamann.