The emergence of a European private law is a key legal issue today. Set-off and ''extinctive'' prescription are neglected topics in comparative literature. Reinhard Zimmermann maps out a model for a common European approach, providing practical examples of the arguments that may be employed in the process of harmonizing European private law. The essays originated during his work with the Commission on European Contract Law (the ''Lando-Commission''), whose task is the ''restatement'' of European contract law. This volume is for comparative lawyers and legal historians.