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Recoupment

Law Library - American Law and Legal InformationFree Legal Encyclopedia: Purge to Recovered Assets Incentivization Fund (RAIF)

To recover a loss by a subsequent gain. In PLEADING, to set forth a claim against the plaintiff when an action is brought against one as a defendant. Keeping back of something that is due, because there is an equitable reason to withhold it. A right of the defendant to have a deduction from the amount of the plaintiff's damages, for the reason that the plaintiff has not complied with the cross-obligations or independent covenants arising under the same contract.

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