MLchartDataset catalogue

Offset

Term · Law · MLC-T-LAW-003534

A counterbalancing claim or amount that reduces or cancels out another claim or amount. In legal contexts, this can involve a defendant's claim against a plaintiff that reduces the amount the plaintiff can recover. For example, in tax law, certain deductions or credits can offset a taxpayer's gross income or tax liability, as defined by the Internal Revenue Code.

Table 1. Record
IdentifierMLC-T-LAW-003534
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003534",
  "term": "Offset",
  "field": "Law",
  "definition": "A counterbalancing claim or amount that reduces or cancels out another claim or amount. In legal contexts, this can involve a defendant's claim against a plaintiff that reduces the amount the plaintiff can recover. For example, in tax law, certain deductions or credits can offset a taxpayer's gross income or tax liability, as defined by the Internal Revenue Code.",
  "url": "https://mlchart.com/terminology/law/offset/"
}

Record 3,528 of 5,445 in Law terminology (MLC-0107). Request the full dataset.