Void and Offset

noun

• The state of nonexistence.
  • synonyms: nothingness, nullity, nihility
• An empty area or space.
  • usage: "the huge desert voids"; "the emptiness of outer space"; "without their support he'll be ruling in a vacuum"
  • synonyms: vacancy, emptiness, vacuum

verb

• Declare invalid.
  • usage: "The contract was annulled"; "void a plea"
  • synonyms: invalidate, annul, quash, avoid, nullify
• Clear (a room, house, place) of occupants or empty or clear (a place or receptacle. of something)
  • usage: "The chemist voided the glass bottle"; "The concert hall was voided of the audience"
• Take away the legal force of or render ineffective.
  • usage: "invalidate a contract"
  • synonyms: invalidate, vitiate
• Excrete or discharge from the body.
  • synonyms: evacuate, empty

adjective

• Lacking any legal or binding force.
  • usage: "null and void"
  • synonyms: null
• Containing nothing.
  • usage: "the earth was without form, and void"

• (a.) Having no incumbent; unoccupied; -- said of offices and the like.
• (a.) Not producing any effect; ineffectual; vain.
• (a.) Of no legal force or effect, incapable of confirmation or ratification; null. Cf. Voidable, 2.
• (a.) Being without; destitute; free; wanting; devoid; as, void of learning or of common use.
• (n.) An empty space; a vacuum.
• (a.) To render void; to make to be of no validity or effect; to vacate; to annul; to nullify.
• (a.) Containing no immaterial quality; destitute of mind or soul.
• (a.) To remove the contents of; to make or leave vacant or empty; to quit; to leave; as, to void a table.
• (v.i.) To be emitted or evacuated.
• (a.) To throw or send out; to evacuate; to emit; to discharge; as, to void excrements.
• (a.) Containing nothing; empty; vacant; not occupied; not filled.

Having no legal force or binding effect; a nullity; not enforceable. A' void' agreement is no contract at all. A void contract need not be disaffirmed, nor can it be ratified. A contract for an illegal purpose (for example, gambling) is void. A voidable contract is one that is able to be voided. Voidable implies a valid act that may be rejected by an act of disaffirmance, rather than an invalid act that may be confirmed. For example, if a minor contracts to buy a diamond ring, the contract can be voided by the minor because of lack of sufficient age. If, however, the minor elects to enforce the contract, the contract is valid and the other party cannot assert the minor's lack of age as a defense.

noun

• The time at which something is supposed to begin.
  • usage: "they got an early start"; "she knew from the get-go that he was the man for her"
  • synonyms: beginning, commencement, first, outset, get-go, start, kickoff, starting time, showtime
• A compensating equivalent.
  • synonyms: counterbalance
• A horizontal branch from the base of plant that produces new plants from buds at its tips.
  • synonyms: stolon, runner
• A natural consequence of development.
  • synonyms: outgrowth, branch, offshoot
• A plate makes an inked impression on a rubber-blanketed cylinder, which in turn transfers it to the paper.
  • synonyms: offset printing
• Structure where a wall or building narrows abruptly.
  • synonyms: set-back, setoff

verb

• Compensate for or counterbalance.
  • usage: "offset deposits and withdrawals"
  • synonyms: countervail
• Make up for.
  • usage: "His skills offset his opponent's superior strength"
  • synonyms: cancel, set off
• Cause (printed matter) to transfer or smear onto another surface.
• Create an offset in.
  • usage: "offset a wall"
• Produce by offset printing.
  • usage: "offset the conference proceedings"

• (n.) A sum, account or value set off against another sum or account, as an equivalent; hence, anything which is given in exchange or retaliation; a set-off.
• (v.t.) To form an offset in, as in a wall, rod, pipe, etc.
• (n.) In general, that which is set off, from, before or against, something.
• (imp.&p.p.) of Offset.
• (n.) A more or less distinct transfer of a printed page or picture to the opposite page, when the pages are pressed together before the ink is dry or when it is poor.
• (n.) A horizontal ledge on the face of a wall, formed by a diminution of its thickness or by the weathering or upper surface of a part built out from it; -- called also set-off.
• (n.) An abrupt bend in an object, as a rod, by which one part is turned aside out of line, but nearly parallel, with the rest; the part thus bent aside.
• (v.t.) To set off; to place over against; to balance; as, to offset one account or charge against another.
• (n.) A short distance measured at right angles from a line actually run to some point in an irregular boundary or to some object.
• (n.) A spur from a range of hills or mountains.
• (v.i.) To make an offset.
• (n.) A short prostrate shoot, which takes root and produces a tuft of leaves, etc. See Illust. of Houseleek.

Is: a. In banking, the deduction by a debtor from a claim or demand of a debt or obligation. Such an' OFFSET' is based upon a counterclaim against the party making the original claim. Example: Seller makes a claim or files a lawsuit asking for $20, 000 from Debtor as the final payment in purchase of a restaurant; as part of his defense Debtor claims an offset of $10, 000 for alleged funds owed by Seller for repairs Debtor made on property owned by Seller, thus reducing the claim of Seller to $10, 000; b. In accounting, the amount equaling or counterbalancing another amount on the opposite side of the same ledger or the ledger of another account; c. In securities, the elimination of a long or short position by making an opposite transaction. See also OFFSET ACCOUNT.