defalcation

  1. Noun.  (legal) The act of cancelling part of a claim by deducting a smaller claim which the claimant owes to the defendant.
  2. Noun.  embezzlement.

This is an unmodified, but possibly outdated, definition from Wiktionary and used here under the Creative Commons license. Wiktionary is a great resource. If you like it too, please donate to Wikimedia.

This entry was last updated on RefTopia from its source on 3/20/2012.