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Meaning of defalcation

de•fal•ca•tion

Pronunciation: (dē"fal-kā'shun, -fôl-), [key]
— n. Law.
  1. misappropriation of money or funds held by an official, trustee, or other fiduciary.
  2. the sum misappropriated.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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