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 ?
A number of issues were present in the meeting such as salaries of the employment, losses of the company, the current conditions of the local airports and a mechanism of making set-ins without hindering the work routines and the importance of raising the level of employees.
Egypt's revolution which has started with demonstrations and set-ins by mostly young people on the 25th of January, 2011 turned into a people revolution only 3 days later on January 28 -- another miracle.
There is no problem about citizens organizing rallies or set-ins at