Definition of "setoff" []

• Something, such as a decoration, that sets off something else by contrast. (noun)
• Something that offsets or compensates for something else; a counterbalance. (noun)
• A counterclaim. (noun)
• Settlement of a debt by a debtor's establishing such a claim against a creditor. (noun)
• Architecture A flat projection, as from a wall; a ledge. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "The bank may have a lien on the entire balance because of so-called setoff rights related to a credit line to MF Global where it acts and agent and lender, the New York-based bank said in a filing."
• ""In addition, Carlson seeks a declaratory order that the amount it owes IBM for past services be 'setoff' against any judgment in its favor," the documents state."
• "Whether it be with a g/f or b/f or your parents or children, what is the smallest thing that 'setoff' a huge fight? it wasn't a huge fight but one time a guy i was with wanted to hear a certain song and i didn't wanna hear it. he yelled and then he pulled the car over for a solid 5 minutes until the song was played. hahahaha i thought it was funny of course must mention, there were 2 other people in the car at the time of this fight. awkwwwwwward"