offset

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Offset

A contrary claim or demand that may cancel or reduce a given claim; a counterclaim. A kind of bookkeeping entry that counters the effect of a previous entry.

offset

1) n. also called a "setoff," the deduction by a debtor from a claim or demand of a debt or obligation. Such an offset is based upon a counterclaim against the party making the original claim. Example: Harry Hardhead makes a claim or files a lawsuit asking for $20,000 from Danny Debtor as the final payment in purchase of a restaurant; as part of his defense Debtor claims an offset of $10,000 for alleged funds owed by Hardhead for repairs Debtor made on property owned by Hardhead, thus reducing the claim of Hardhead to $10,000. 2) v. to counterclaim an alleged debt owed by a claimant to reduce the demand of that claimant. (See: counterclaim, defense, setoff)

offset

noun allowance, balance, compensation, counter, counteractant, counteragent, counterbalance, counterblast, counterpoise, counterweight, equalization, equivalent, hedge, impedance, neutralizer, nullifier, opposition, preventative, satisfaction, set off, substitute
See also: adeem, compensate, contra, counteract, countervail, cover, equipoise, negate, neutralize, nullify, opposition, outbalance, overreach, reaction, setoff
References in periodicals archive ?
Professor Dudley Shallcross, Professor in Atmospheric Chemistry at The University of Bristol, added: "A significant ingredient required for the production of these Criegee biradicals comes from chemicals released quite naturally by plants, so natural ecosystems could be playing a significant role in off-setting warming.
But, Dr Edwards has shown that managed restoration of logged forest, which can also be used for carbon off-setting, brings biodiversity virtually back to pre-logging levels within 15 years, much quicker than forest left to regenerate naturally.
To acknowledge that off-setting is a last resort, after action has been taken to reduce emissions;
Half the money will go to the driver, with the other half being donated to the carbon off-setting organisation.
Off-setting these drivers are continued uncertainty about industry fundamentals like job growth and confidence, which continue to curtail market expansion.
First time listeners won't expect Joe Dennis' fanciful atmospheric vocals off-setting Cory Race's maddening 7/8 drumming, Ryan Brannon's heavy bass groove and Stillman's hundred notes a measure.
Our table shows just how much you can trim off your mortgage term by off-setting your savings against the amount you owe.