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Set off agreement for debts between a company and a shareholder

Setoff Agreement for Mutual Debts

Set off a debt between a company and one of its shareholders with this easy Setoff Agreement template.

  • The company and the shareholder are each in debt to the other.
  • Each of the parties agrees to cancel their debt by setting off the debts one against the other.
  • The Setoff Agreement for Mutual Debts template is provided in MS Word format and is fully editable.
  • This is a generic form which can be used in many jurisdictions.
$6.49
Canada Set-Off and Cancellation Agreement

Setoff and Cancellation Agreement | Canada

Prepare an Agreement for Set-off and Cancellation of Shares between two affiliated Canadian companies with this downloadable template.

  • One of the companies (selling company) sells shares to the other (purchasing company), as part of a rollover transaction.
  • The purchase price of the shares is set off against the redemption of shares of stock held by the purchasing company in the capital of the selling company.
  • The purchaser pays for the shares by way of a promissory note. The vendor redeems the shares and pays the redemption price also by way of promissory note.
  • Both promissory notes are for the same amount and set each other off.
  • This legal template is available in MS Word format, and is fully editable to fit your specific circumstances.
  • This is a Canadian legal document pursuant to the Income Tax Act (Canada).
$6.50
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