Defalcation: Difference between revisions

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n.) A lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set- off.

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	v. ~~from Latin for "deduction," withholding or misappropriating funds held for another, particularly~~ by a ~~public official, or failing to make a proper accounting~~.		n.) A lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set- off.