Definitions for defalcation
ˌdi fælˈkeɪ ʃən, -fɔl-de·fal·ca·tion

Princeton's WordNetRate this definition:0.0 / 0 votes

1. defalcationnoun

   the sum of money that is misappropriated

2. embezzlement, peculation, defalcation, misapplication, misappropriationnoun

   the fraudulent appropriation of funds or property entrusted to your care but actually owned by someone else

WiktionaryRate this definition:0.0 / 0 votes

1. defalcationnoun

   The act of cancelling part of a claim by deducting a smaller claim which the claimant owes to the defendant.

2. defalcationnoun

   embezzlement

Samuel Johnson's DictionaryRate this definition:0.0 / 0 votes

1. Defalcationnoun

   Diminution; abatement; excision of any part of a customary allowance.

   Etymology: from defalcate.

   The tea table is set forth with its customary bill of fare, and without any defalcation. Joseph Addison, Spectator, №. 487.

WikipediaRate this definition:0.0 / 0 votes

1. Defalcation

   Defalcation is misappropriation of funds by a person trusted with their 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 acts that taint a particular debt such that it cannot be discharged in bankruptcy. The United States Supreme Court addressed the issue in 2013, holding that "defalcation" in the context of the U.S. Bankruptcy Code requires proof of "a culpable state of mind… involving knowledge of, or gross recklessness in respect to, the improper nature of the relevant fiduciary behavior."In accounting terminology, especially with respect to the area of audit, defalcation means a misappropriation of assets or theft of assets by employees or officers of a corporation. Defalcation occurs when a debtor commits a bad act while acting in a fiduciary capacity. The classic example of defalcation is when a trustee recklessly invests trust funds and loses the money. If the beneficiary wins a judgment against the trustee, and the trustee files for bankruptcy, the debt (the judgment) cannot be discharged in bankruptcy because the debt was the result of a defalcation. Defalcation, for example, applies when a debtor is acting in a fiduciary capacity. To constitute a defalcation, the conduct involves a degree of culpability that is greater than negligence, but the act does not need to rise to the level of a "fraud" under common law. Defalcation requires showing of conscious behavior or extreme recklessness.The term is used in legal proceedings other than bankruptcy to refer more generally to embezzlement; it is often used in the context of the title insurance business. A title agent who misuses funds intended to be used to close insured transactions is said to be involved in a defalcation. Many title insurers have their own "defalcation units" Sometimes defalcation has been pronounced for very small amounts as under 2 £ and cents, even if it was claimed to be an error in handling change.

ChatGPTRate this definition:0.0 / 0 votes

1. defalcation

   Defalcation is the misappropriation of funds or embezzlement by a person entrusted with its charge, typically within a business, corporate, or government setting. It refers to the misuse of funds for personal purposes, theft, or the loss of funds due to fraud, neglect, or errors.

Webster DictionaryRate this definition:0.0 / 0 votes

1. Defalcationnoun

   a lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set- off

2. Defalcationnoun

   that which is lopped off, diminished, or abated

3. Defalcationnoun

   an abstraction of money, etc., by an officer or agent having it in trust; an embezzlement

4. Etymology: [LL. defalcatio: cf. F. dfalcation.]

WikidataRate this definition:0.0 / 0 votes

1. 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 bad acts that taint a particular debt such that it cannot be discharged in bankruptcy. Defalcation occurs when a debtor commits a bad act while acting in a fiduciary capacity. The classic example of defalcation is when a trustee recklessly invests trust funds and loses the money. If the beneficiary wins a judgment against the trustee, and the trustee files for bankruptcy, the debt cannot be discharged in bankruptcy because the debt was the result of a defalcation. Defalcation only applies when a debtor is acting in a fiduciary capacity. To constitute a defalcation, the conduct involves a degree of culpability that is greater than negligence, but the act does not need to rise to the level of a "fraud" under common law. Defalcation requires a showing of conscious behavior or extreme recklessness. The term is used in legal proceedings other than bankruptcy to refer more generally to embezzlement; it is often used in the context of the title insurance business. A title agent who misuses funds intended to be used to close insured transactions is said to be involved in a defalcation. Many title insurers have their own "defalcation units."

Matched Categories

1. • Sum

How to pronounce defalcation?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

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   Zira

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   Oliver

   British

   Wendy

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   Fred

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   Tessa

   South African

How to say defalcation in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of defalcation in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of defalcation in Pythagorean Numerology is: 9

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=defalcation
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Defalcation
3. ^ Samuel Johnson's Dictionary
   https://johnsonsdictionaryonline.com/views/search.php?term=defalcation
4. ^ Wikipedia
   https://en.wikipedia.org/wiki/Defalcation
5. ^ ChatGPT
   https://chat.openai.com
6. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/defalcation
7. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=defalcation