De`fal*ca"tion (?), n. [LL. defalcatio: cf. F. d'efalcation.]

1.

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

Abbott.

2.

That which is lopped off, diminished, or abated.

3.

An abstraction of money, etc., by an officer or agent having it in trust; an embezzlement.

 

© Webster 1913.

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