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