Law Dictionary

set-off

noun \ ˈset-ˌȯf \

legal Definition of set-off

1 :the reduction or discharge of a debt by setting against it a claim in favor of the debtor; specifically :the reduction or discharge of a party's debt or claim by an assertion of another claim arising out of another transaction or cause of action against the other party
2 a :a right to seek reduction or discharge of a debt or claim by countering a party's claim with an independent claim
b :a counterclaim made by a defendant against a plaintiff for reduction or discharge of a debt by reason of an independent debt owed by the plaintiff to the defendant — compare recoupment 2

set off

transitive verb

legal Definition of set off

:to reduce or discharge by set-off :offset

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