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Do defendants need to make a formal setoff statement against the creditor’s claim in front of the judge to extinguish the claimant’s claim? Or is it enough to refer informally to an earlier setoff made by them prior to the litigation? A fresh decision of the Hungarian Supreme Court, analysed in this article, gives answer to these questions.

In a recent case, the Hungarian Supreme Court had to decide whether a Hungarian undergraduate student studying economics and carrying out international forex transactions can be considered as a “consumer” and thus eligible for starting litigation at his residence, in Hungary against the foreign platform service provider?

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