Definition - Transitive Verb : to reduce or discharge by set-off : See also offset
Definition - Noun 1: the reduction or discharge of a debt by setting against it a claim in favor of the debtor specif : the reduction or discharge of a party's debt or claim by an assertion of another claim arising out of another transaction or cause of action against the other party 2 a: a right to seek reduction or discharge of a debt or claim by countering a party's claim with an independent claim b: a counterclaim made by a defendant against a plaintiff for reduction or discharge of a debt by reason of an independent debt owed by the plaintiff to the defendant compare recoupment Pronunciation'set-"o'f
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