The Discussion About The Right Of Set-off In Bankruptcy Law

The right of set-off in Bankruptcy Law means before the bankruptcy application isaccepted,the creditor who owes the bankruptcy enterprise a debt has the right to claim theset-off to the manager between his bankruptcy claim and the debt he owes the bankruptcyenterprise before the final allocation whether the types and quality of the subject mattersare the same or not,the deadlines for paying off the debts have arrived or not. The right ofset-off in Bankruptcy Law comes from the one in Civil Law and its nature is legalset-off,but its subject,restriction,purpose of exercise and the appilication of the principle ofautonomy are all different from the one in Civil Law.In the three legislative systems of theright of set-off in Bankruptcy Law,the retrospective effect is the opinion that we shouldhold in our country’s future legislation. The right of set-off in Bankruptcy Law has aunique and important position,however,it is just the special appilication of the set-off inCivil Law in the bankruptcy area.However,the value conflict also causes that differentcountries and regions make different choices about the right of set-off in Bankruptcy Law.The discussion on the exercise of the right of set-off in Bankruptcy Law mainlyincludes its scope and elements of application.The scope involves special types of set-offbetween claims and debts.The elements also cover the constituent elements of the right,thesubject and counterpart of exercise,way and time.Other countries and regions’s restrictive provisions are similar to China,whereasdifferences exist.By a comparative analysis,the thesis confirms the reasonable points of ourcountry’s provisions.At the same time,it puts forward some suggestions for improvementabout the inadequacies so that the set-off system in Bankruptcy Law in China can beapplied to the practice better.