Main Entry: set·off

Pronunciation: \ˈset-ˌȯf\

Function: noun

Date: 1621

1 : something that is set off against another thing: a : decoration, ornament b : compensation, counterbalance
2 : the reduction or discharge of a debt or claim by setting against it a distinct claim in favor of the debtor or party who is the object of the first claim (as in a lawsuit); also : the offsetting claim itself
3 : offset 7a