Compensation

Noun

1. The act or principle of compensating.
2. Something which is regarded as an equivalent; something which compensates for loss.
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.
4. A recompense or reward for service.
5. 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.