Meaning of setoff

set•off

Pronunciation: (set'ôf", -of"), [key]
— n.
  1. something that counterbalances or makes up for something else, as compensation for a loss.
  2. a counterbalancing debt or claim, esp. one that cancels an amount a debtor owes.
  3. Also called
    1. a reduction in the thickness of a wall.
    2. a flat or sloping projection on a wall, buttress, or the like, below a thinner part.
  4. something used to enhance the effect of another thing by contrasting it, as an ornament.
  5. offset (def. 7).
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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