Definitions of "set-off"
  1. The process of deducting a owed claim from a debt, resulting in the decrease or elimination of that debt
  2. A legal opportunity to lessen or eliminate a debt or claim by presenting a separate claim that counteracts the original party's claim
  3. A claim put forth by a person being sued against the suing party to reduce or eliminate a debt based on a different debt that the suing party owes to the person being sued
How to use "set-off" in a sentence
  1. The company used a set-off to deal with the large debt it owed to its supplier.
  2. To counter the hefty compensation claim, the business decided to exercise its right to set-off.
  3. Facing a lawsuit for unpaid bills, the tenant offered a set-off based on damages not repaired by the landlord.

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