Common use of Right of Set Clause in Contracts

Right of Set. off a) The Bank may at any time, without notice, set off against any account or indebtedness of the Customer any other account whether current, loan, savings or any other type: b) The Bank may, upon notice to the Customer, set off his account against any other account or indebtedness in respect of which the Customer is liable, notwithstanding that some other person may also be liable in respect thereof.