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Note Bans ‘Offset,’ Allows ‘Recoupment’ (access required)

In determining a buyer’s final payment under an agreement to buy plaintiff’s Harley Davidson dealership, a Richmond U.S. District Court says defendant buyer is entitled to recoupment that will reduce the purchase amount, even though the subject promissory note states there is no “offset”; but the buyer still owes the seller $97,751.69. In 2003, plaintiff and ...

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