CONCURSUS DEBITI ET CREDITIconcursus debiti et crediti (k[schwa]n-k[schwa]r-s[schwa]s deb-i-tI et cred-i-tI). [Law Latin] Scots law. A running together of debt and credit. ? The phrase appears in reference to requirements for supporting a plea of compensation.
¡°Concursus debiti et crediti …. This is necessary to found a plea of compensation, for the parties must be debtor and creditor, each in his own right and at the same time. Thus, if A sue B for payment of a debt due by him, B may plead in compensation a debt due to him by A, and here there is the necessary concurrence. But, if the firm of which A is a partner suing B for a debt due by him to them, be met by the plea of compensation by B, on the ground of a private debt due by A, the plea will not be sustained, for there is no concursus; a company being regarded by the law as a separate person.¡± John Trayner, Trayner’s Latin Maxims 88¨C89 (4th ed. 1894).