01 n. The act or principle of compensating.
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1.
The act or principle of compensating.
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2.
That which constitutes, or is regarded as, an equivalent; that which makes good the lack or variation of something else; that which compensates for loss or privation; amends; remuneration; recompense.“The parliament which dissolved the monastic foundations . . . vouchsafed not a word toward securing the slightest compensation to the dispossessed owners.” — Hallam.“No pecuniary compensation can possibly reward them.” — Burke.
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3.
The extinction of debts of which two persons are reciprocally debtors by the credits of which they are reciprocally creditors; the payment of a debt by a credit of equal amount; a set-off.(Law)
Phrases & compounds
Compensation balance —
a kind of balance wheel for a timepiece. The rim is usually made of two different metals having different expansibility under changes of temperature, so arranged as to counteract each other and preserve uniformity of movement.
Compensation pendulum —
See Pendulum.
Syn.
Recompense; reward; indemnification; consideration; requital; satisfaction; set-off.