Selected Cases by Article & Issues
(1) The notice must specify the obligations to which it relates.
(2) If the notice does not specify the obligation against which set-off is exercised, the other party may, within a reasonable time, declare to the first party the obligation to which set-off relates. If no such declaration is made, the set-off will relate to all the obligations proportionally.
|Notice specifying obligations to be discharged
|Declaration by other party
|Obligations discharged proportionally