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In order that compensation may be proper, it is required:\n(1) That each of the persons bound should be so principally, and that he be at the same time the principal creditor of the other.\n(2) That both debts consist of a sum of money or, when the things due are perishable, that they be of the same kind and also of the same quality, if the latter should have been stipulated.\n(3) That both debts are due.\n(4) That they be determined and demandable.\n(5) That none of them is subject to any retention or suit instituted by a third person, and of which due notice has been given the debtor.\nHistory\n—Civil Code, 1930, § 1150.