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 ?
That's because anyone who has ever worked in a civil service position in the 28 states with offset penalties with a private pension plan, will lose from 50% to 100% of their social security benefits if they took a lump sum one-time payout or will receive a monthly pension when retired.
The purpose of "Social Security Offset Penalties" is to give members of these groups the information they will need about the three different Social Security offset penalties.
compare and critically evaluate the effectiveness of offsets practices
globally and understand and evaluate how offsets can be used to
The GAO's analysis of data shows that the number of borrowers-especially older borrowers-who have experienced offsets of their Social Security benefits because of such unpaid loans has increased over time.
Roughly 44% of borrowers aged 50 or older at the time of their initial offset saw the maximum possible amount of their Social Security benefit withheld-15% of their payment.
Hence defense offsets serve to compensate the purchasing country's economy through investing either in its national defense industry or in these other sectors which are directly beneficial to the public.
Offsets' complexities actually make it hard to measure the true cost of defense deals.
and free-trade advocates seek to prohibit offsets. In a previous article
offsets may be a "second-best" solution and questioned whether
On Thursday, sources exclusively told (http://www.tmz.com/2018/05/17/offset-hospitalized-car-crash/) TMZ that the "Bodak Yellow" hitmaker hurried to be by Offset's side when she learned about the accident.
Offset also reportedly only got minor injuries from the crash.