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setoff Definition

set·off (set′ôf′)

noun

  1. a thing that makes up for or sets off something else; counterbalance; compensation
    1. a counterbalancing debt claimed by a debtor against a creditor
    2. a claim for this
  3. offset ( & )

setoff Law Definition

n

A counterclaim against the plaintiff by the defendant arising from a cause of action other than that she is being sued for; a reduction in the amount of a settlement by the amount the debtor is owed by the creditor. See also counterclaim and cross-claim.

Browse dictionary entries near setoff

  1. ‹ setiform
  2. ‹ setiferous
  3. ‹ seti-
  4. ‹ Seth
  5. ‹ setback
  6. ‹ setaceous
  7. ‹ seta
  8. ‹ set upon
  9. ‹ set up
  10. ‹ set-top box
  1. Seton ›
  2. setose ›
  3. setscrew ›
  4. settecento ›
  5. settee ›
  6. setter ›
  7. setting ›
  8. setting-up exercises ›
  9. settle ›
  10. settle up ›