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understatement

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The definition of an understatement is when something is said that is far less than what is true.

(noun)

An example of an understatement is a millionaire telling someone that they have a good paying job.

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See understatement in American Heritage Dictionary 4

noun

A disclosure or statement that is less than complete.
Restraint or lack of emphasis in expression, as for rhetorical effect.
Restraint in artistic expression.

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