Defalcation

De`fal*ca"tion

(?), n. [LL. defalcatio: cf. F. dfalcation.] 1. A lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set- off. Abbott.
[1913 Webster]

2. That which is lopped off, diminished, or abated.
[1913 Webster]

3. An abstraction of money, etc., by an officer or agent having it in trust; an embezzlement.
[1913 Webster]

 

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Wed 19th December 2018