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defalcation - Meaning and Examples

Meaning of 'defalcation' (Webster Dictionary)

1 . Defalcation [ n.]
- A lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set- off.
- That which is lopped off, diminished, or abated.
- An abstraction of money, etc., by an officer or agent having it in trust; an embezzlement.