Including embezzlement and misappropriation but a broader term than either. Re Butts (DC NY) 120 F 966, 970. As used in the provision of the bankruptcy act excepting debts created by defalcation from the effect of a discharge, "defalcation" was intended to include defaults other than malversations implied by fraud, embezzlement and misappropriation, and does not necessarily denote moral deliction. First Citizens Bank v Parker, 225 NC 480, 35 SE 489, 163 ALR 1003. Used in an unusual but proper sense, the term "defalcation" is synonymous with recoupment and counterclaim. 21 Am J2d Countcl § 12. See without defalcation.

Ballentine's law dictionary. . 1998.

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  • défalcation — [ defalkasjɔ̃ ] n. f. • 1307; lat. médiév. defalcatio, de defalcare ♦ Action de défalquer. ⇒ décompte, déduction. Défalcation faite des frais, il vous reste tant. ● défalcation nom féminin (latin médiéval defalcatio, onis) Action de défalquer ;… …   Encyclopédie Universelle

  • defalcation — de·fal·ca·tion /ˌdē ˌfal kā shən, ˌfȯl , di ; ˌde fəl kā shən/ n [earlier, deduction, lessening, shortcoming, from Medieval Latin defalcatio discounting of debt, from defalcare to cut down, deduct, from Latin de away from + falc , falx sickle] 1 …   Law dictionary

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  • défalcation — DÉFALCATION. s. f. Déduction, retranchement. Sur le produit de cette terre, il faut faire la défalcation des faux frais …   Dictionnaire de l'Académie Française 1798

  • Defalcation — De fal*ca tion, n. [LL. defalcatio: cf. F. d[ e]falcation.] 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,… …   The Collaborative International Dictionary of English

  • Defalcation — Defalcation, lat., Abschneiden, Abziehen, Verkürzen; Verb: defalciren …   Herders Conversations-Lexikon

  • defalcation — mid 15c., from M.L. defalcationem (nom. defalcatio), from pp. stem of defalcare, from DE (Cf. de ) + L. falx, falcem sickle, scythe, pruning hook …   Etymology dictionary

  • defalcation — [dē΄fal kā′shən, dē΄fôlkā′shən] n. [ML defalcatio: see DEFALCATE] 1. embezzlement 2. the amount embezzled …   English World dictionary

  • Defalcation — A defalcation is an amount of funds misappropriated by a person trusted with its charge; also, the act of misappropriation, or an instance thereof. The term is more specifically used by the United States Bankruptcy Code to describe a category of… …   Wikipedia

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