defalcation


de·fal·ca·tion

noun \ˌdē-ˌfal-ˈkā-shən, ˌdē-ˌfl-, di-; ˌde-fəl-\

Definition of DEFALCATION

1
archaic :  deduction
2
:  the act or an instance of embezzling
3
:  a failure to meet a promise or an expectation

First Known Use of DEFALCATION

15th century

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