Compensation

1. n. An equivalent stipulated for in contracts for the sale of real estate, in which it is customary to provide that errors in description, etc., shall not avoid, but shall be the subject of compensation.
2. n. The act or principle of compensating.
3. n. 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.
4. n. 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.
5. n. A recompense or reward for some loss or service.

The word meanings were obtained from OPTED(The Online Plain Text English Dictionary), which is based on “The Project Gutenberg Etext of Webster’s Unabridged Dictionary” which is in turn based on the 1913 US Webster’s Unabridged Dictionary (See Project Gutenburg), as a text file.