OFFSET
offset, n. Something (such as an amount or claim) that balances or compensates for something else; SETOFF.¡°Both setoff and recoupment existed at common law, but their scope has been modified, expanded, and ultimately merged by subsequent statutory and decisional law. The final equitable concept of ¡®offset¡¯ recognizes that the debtor may satisfy a creditor’s claim by acquiring a claim that serves to counterbalance or to compensate for the creditor’s claim…. [C]ourts use the terms ¡®offset¡¯ and ¡®setoff¡¯ interchangeably, often switching between them from sentence to sentence, supporting the conclusion that there is no substantive difference between them.¡± 4 Ann Taylor Schwing, California Affirmative Defenses 2d ¡ì 44:1, at 4¨C5 (1996).
offset, vb. To balance or calculate against; to compensate for (the gains offset the losses).
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