Jusletter

Set-off (compensatio): from Diversity to Unity

Comments on the Principles of European Contract Law, Part Three

  • Autor/Autorin: Pascal Pichonnaz
  • Rechtsgebiete: Europäisches Privatrecht
  • Zitiervorschlag: Pascal Pichonnaz, Set-off (compensatio): from Diversity to Unity, in: Jusletter 29. August 2005
Set-off (Verrechnung, compensation, compensazione) is still triggered in various legal systems by different modes and depends on various requirements. It may thus seem difficult to craft a unique solution for all European legal systems, which would take into account the specifities of all. The Principles of European Contract Law (PECL) contain a rather convincing solution in order to harmonize Civil and Common Law solutions. This paper consists in a brief analysis of the new provisions of the PECL on set-off, within the historical and comparative understanding of the institution. Undoubtely, this should also enlighten the interpretation of Swiss provisions on set-off, especially the problematic retroactive effect of set-off.

Table of contents

  • Introduction
  • I. The operation of set-Off
  • 1. From a procedural to a substantive device
  • 2. Set-off by notice
  • II. The substantive requirements
  • 1. The cross-claim must be due
  • 2. The declaring party must be entitled to perform
  • 3. The question of liquidity (ascertainment)
  • III. The effect of set-off
  • 1. The principle of non-retroactivity of effects
  • 2. The consequences of the ex-nunc effect
  • 3. The peculiarity of plurality of claims and/or obligations
  • Conclusion
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