Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Black's Law Dictionary: 2nd Edition

    A lack, shortage or insufficiency. The difference bstween the total amount of the debt or payment meant to be secured by a mortgage and that realized on foreclosure and sale when less than the total. A judgment or decree for the amount of such deficiency is called a "deficiency judgment" or "decree." Goldsmith v. Brown, 35 Barb. (N. Y.) 492.
    —Deficiency bill. In parliamentary practice, an appropriation bill covering items of expense omitted from the general appropriation bili or bills, or for which insufficient appropriations were made. If intended to cover a variety of such items, it is commonly calied a "general deficiency bill;" if intended to make provision for expenses which must be met immediately, or which cannot wait the ordinal course of the general appropriation bills, it is called an "urgent deficiency bili."