n.
Pronunciation: ' set- ˌ o ̇ f
Function: noun
Date: 1621
1 : something that is set off against another thing: a : DECORATION , ORNAMENT b : COMPENSATION , COUNTERBALANCE
2 : the reduction or discharge of a debt or claim by setting against it a distinct claim in favor of the debtor or party who is the object of the first claim (as in a lawsuit) also : the offsetting claim itself
3 : OFFSET 7A