Defalcation
The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The Cyclopedic Law Dictionary
The act of a defaulter. Embezzlement or misappropriation of public, or trust funds. The reduction of the claim of one of the contracting parties against the other, by deducting from it a smaller claim due from