setoff: Meaning and Definition of

set•off

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).