571. Mutual credit and set off
Where there have been mutual credits, mutual debts, or other mutual dealings between a debtor, against whom a receiving order shall be made, and any other person proving or claiming to prove a debt under such receiving order, an account shall be taken of what is due from one party to the other in respect of such mutual dealings, and the sum due from the one party shall be set off against any sum due from the other party, and the balance of the account, and no more, shall be claimed or paid on either side respectively; but a person shall not be entitled under this article to claim the benefit of any set off against the property of a debtor in any case where he or she had at the time of giving credit to the debtor, notice of an act of bankruptcy committed by such debtor, and available against him or her for adjudication.