Right to Set off, appropriation, safe deposit lockers & articles, Nomination Rules, Garnishee order

The right of set-off allows a banker to combine two or more accounts of the same customer and adjust a debit balance in one account against a credit balance in another account.

No, right of set-off cannot be applied to a minor's account.

The debts must be certain and ascertained, both accounts must be in the same name and same right, and the debt due to the bank must be legally recoverable.

Banker must give prior notice to the customer before exercising set-off.

No, a bank cannot exercise right of set-off against a joint account to recover the individual dues of one of the joint account holders, as the legal entities are different.

No, trust funds cannot be set off against trustee's personal liability.

Right of set-off involves combining debit and credit balances in accounts, while right of lien gives the bank the right to retain goods or securities pledged until dues are cleared.

Creditor may apply payment to any lawful debt including time-barred ones.