Meaning of setoff
Pronunciation: (set'ôf", -of"), [key]
- something that counterbalances or makes up for something else, as compensation for a loss.
- a counterbalancing debt or claim, esp. one that cancels an amount a debtor owes.
- Also called
- a reduction in the thickness of a wall.
- a flat or sloping projection on a wall, buttress, or the like, below a thinner part.
- something used to enhance the effect of another thing by contrasting it, as an ornament.
- offset (def. 7).
- setoff (Thesaurus)