What is OFFSET?

A deduction; a counterclaim; a contrary claim or demand by which a given claim may be lessened or canceled. See Leonard v. Charter Oak L. Ins. Co., 65 Conn. 529, 33 Atl. 511; Cable Flax Mills v. Early, 72 App. Div. 213, 76 N. Y. Supp. 191. The more usual form of the word is “set-off,” (9- v.)

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