setoff

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setoff (offset)

n. a claim by a defendant in a lawsuit that the plaintiff (party filing the original suit) owes the defendant money which should be subtracted from the amount of damages claimed by plaintiff. By claiming a setoff the defendant does not necessarily deny the plaintiff's original demand, but he/she claims the right to prove the plaintiff owes him/her an amount of money from some other transaction and that the amount should be deducted from the plaintiff's claim. (See: offset, affirmative defense)

setoff

noun allowance, balance, compensation, counter, counter demand, counterbalance, credit, equivalent, offset, opposite, outstanding indebteddess, satisfaction
Associated concepts: affirmative defense, counterclaim
See also: indemnity
References in classic literature ?
"I see spots of blood on the ground." And he set off to follow the two friends.
They set off. Marianne had at first the advantage, but a false step brought her suddenly to the ground; and Margaret, unable to stop herself to assist her, was involuntarily hurried along, and reached the bottom in safety.
Early the next morning, a party of thirty men set off in pursuit of the foe, and Captain Bonneville hoped to hear a good account of the Blackfeet marauders.
They accordingly set off with the two canoes on their shoulders, accompanied by a guard of eight men well armed.
Then mounting their horses to the number of four hundred and fifty men, and brandishing their weapons, they set off along the northern bank of the river, to get ahead of the canoes, lie in wait for them, and take a terrible revenge on the white men.
Her brother, she found, was preparing to set off with all speed to Fullerton, to make known his situation and ask consent; and here was a source of some real agitation to the mind of Isabella.
Their conference was put an end to by the anxious young lover himself, who came to breathe his parting sigh before he set off for Wiltshire.
Philander set off in the direction that would put the greatest distance between themselves and the lion.