defalcation definition

  • noun:
    • The act of cancelling part of a claim by deducting a smaller claim which the claimant owes to the defendant.
    • embezzlement
    • A lopping down; a diminution; abatement; deficit. Particularly: reduced amount of a claim by deducting a counterclaim; set- down.
    • whatever is lopped off, reduced, or abated.
    • An abstraction of money, etc., by an officer or broker having it in trust; an embezzlement.
    • The act of cutting off or deducting a part; abatement; curtailment; specifically, in law, the reduced total of a claim or need on agreement by the level of a counter-claim.
    • whatever is take off; deficit.
    • A deficiency through breach of trust by person who has the management or cost of funds belonging to others; a fraudulent deficiency in cash issues.
    • the sum of money that is misappropriated
    • the deceptive appropriation of resources or property entrusted to your attention but in fact possessed by some other person

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