Adjustment - sustany/dvg GitHub Wiki

Adjustment is a settlement, allowance, or deduction made on a debt or claim that has been objected to by a debtor or creditor in order to establish an equitable arrangement between the parties.��

For tax returns, an IRS-approved change to tax liability is considered an adjustment.�

When money is owed to a lender, debt adjustments are made by creditors or judges who exempt debtors from a part of their obligation, in light of ongoing circumstances; like insolvency.�

In insurance law, an insurance company�s settlement on a claim is referred to as an adjustment. The company�s adjustment reflects the sum of money the company is willing to pay on�behalf of a claimant after negotiation and consideration of the parties� gains, losses, and rights.�

Set-offs, contributions, and subrogation are also examples of adjustments.��

A set-off is�a statutory defense to all or a part of a plaintiff�s monetary claim. It also refers to the adjustment of losses against profit or income by a taxpayer in a particular tax year.�

A contribution is a payment made between defendants with joint and several liabilities in order to apportion, or adjust, for liability.�

Subrogation is the substitution of one person or group in the place of another with reference to a lawful claim, demand, or right, whereby the subrogating party assumes the rights and duties of the original party.�