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That part of any open field or place that was allotted for corn or hay, and upon which there was no common or feeding, was anciently said to be in defenso; so of any meadow ground that was laid in for hay only. The same term was applied to a wood where part was inclosed or fenced, to secure the growth of the underwood from the injury of cattle. Cowell. … [Read more...] about DEFENSO

In marine insurance. An allowance or drawback credited to the insurers on the cost of repairing a vessel for damage arising from the perils of the sea insured against. This allowance is usually one-third, and is made on the theory that the parts restored with new materials are better, in that proportion than they were before the damage. … [Read more...] about DEDUCTION FOR NEW

practice, contracts. The reduction of the claim of one of the contracting parties against the other, by deducting from it a smaller claim due from the former to the latter. 2. The law operates this reduction , in certain cases, for, if the parties die or are insolvent, the balance between them is the only claim; but if they are solvent and alive, the defendant may or may not … [Read more...] about DEFALCATION

Logical reasoning based upon observation and analysis. … [Read more...] about DEDUCTIVE REASONING

To set off one claim against another; to deduct a debt due to one from a debt which one owes. Johnson v. Signal Co., 57 N. J. Eq. 79, 40 Ati. 193; Pepper v. Warren, 2 Marv. (Del.) 225, 43 Atl. 91. This verb corresponds only to the second meaning of "defalcation" as given above; a public officer or trustee who misappropriates or embezzles. funds in his hands is not said to … [Read more...] about DEFALK