The Collaborative International Dictionary of English v.0.48:

Adjustment \Ad*just"ment\ (-ment), n. [Cf. F. ajustement. See
   Adjust.]
   1. The act of adjusting, or condition of being adjusted; act
      of bringing into proper relations; regulation.
      [1913 Webster]

            Success depends on the nicest and minutest
            adjustment of the parts concerned.    --Paley.
      [1913 Webster]

   2. (Law) Settlement of claims; an equitable arrangement of
      conflicting claims, as in set-off, contribution,
      exoneration, subrogation, and marshaling. --Bispham.
      [1913 Webster]

   3. The operation of bringing all the parts of an instrument,
      as a microscope or telescope, into their proper relative
      position for use; the condition of being thus adjusted;
      as, to get a good adjustment; to be in or out of
      adjustment.
      [1913 Webster]

   Syn: Suiting; fitting; arrangement; regulation; settlement;
        adaptation; disposition.
        [1913 Webster]

WordNet (r) 3.0 (2006):

adjustment
    n 1: making or becoming suitable; adjusting to circumstances
         [syn: adjustment, accommodation, fitting]
    2: the act of making something different (as e.g. the size of a
       garment) [syn: alteration, modification, adjustment]
    3: the act of adjusting something to match a standard [syn:
       adjustment, registration, readjustment]
    4: the process of adapting to something (such as environmental
       conditions) [syn: adaptation, adaption, adjustment]
    5: an amount added or deducted on the basis of qualifying
       circumstances; "an allowance for profit" [syn: allowance,
       adjustment]

Moby Thesaurus II by Grady Ward, 1.0:

192 Moby Thesaurus words for "adjustment":
   abatement of differences, about-face, acclimation, acclimatization,
   accommodation, accord, accordance, accustoming, acquiescence,
   adaptation, adaption, adjusting, adjustive reaction, agreement,
   alignment, alteration, altering, amelioration, apostasy,
   arrangement, assimilation, attunement, bad condition, balance,
   bargain, bearings, betterment, break, breaking, breaking-in,
   calibrating, calibration, case hardening, change, change of heart,
   changeableness, charting, closing, coaptation, codification,
   compliance, composition, composition of differences, compromise,
   concession, conclusion, conditioning, conformance,
   conformation other-direction, conformity, congruity, consistency,
   constructive change, continuity, conventionality, conversion,
   coordination, cop-out, correcting, correction, correspondence,
   deal, defection, degeneration, degenerative change,
   desertion of principle, deterioration, deviation, difference,
   discontinuity, disorientation, divergence, diversification,
   diversion, diversity, domestication, enablement, equalization,
   equalizing, equating, equation, equilibration, equipment,
   evasion of responsibility, evening, evening up, familiarization,
   fettle, fit, fitting, flexibility, flip-flop, form, fulfillment,
   furnishing, give-and-take, giving way, good condition,
   gradual change, habituation, hardening, harmonization, harmony,
   housebreaking, improvement, integrated personality, integration,
   inurement, keeping, line, malleability, melioration, methodization,
   mitigation, modification, modulation, mutual concession,
   naturalization, normalization, obedience, observance, order,
   ordination, organization, orientation, orthodoxy, overthrow,
   planning, pliancy, psychosynthesis, qualification, radical change,
   rationalization, re-creation, readjustment, realignment,
   reconcilement, reconciliation, redesign, reform, reformation,
   regularization, regulating, regulation, rehabilitation, remaking,
   renewal, repair, reshaping, resolution, restructuring, reversal,
   revival, revivification, revolution, routinization, sealing,
   seasoning, setting, settlement, shape, shift, signature, signing,
   solemnization, squaring, strictness, sudden change, surrender,
   switch, synchronization, syntonic personality, systematization,
   taming, terms, timing, total change, traditionalism, training,
   transition, trim, tuning, turn, turnabout, understanding,
   uniformity, upheaval, variation, variety, violent change,
   worsening, yielding



Bouvier's Law Dictionary, Revised 6th Ed (1856):

ADJUSTMENT, maritime law. The adjustment of a loss is the settling and
ascertaining the amount of the indemnity which the insured after all proper
allowances and deductions have been made, is entitled to receive, and the
proportion of this, which each underwriter is liable to pay, under the
policy Marsh. Ins. B. 1, c. 14, p. 617 or it is a written admission of the
amounts of the loss as settled between the parties to a policy of insurance.
3 Stark. Ev. 1167, 8.
     2. In adjusting a loss, the first thing to be considered is, how the
quantity of damages for which the underwriters are liable, shall be
ascertained.  When a loss is a total loss, and the insured decides to
abandon, he must give notice of this to the underwriters iii a reasonable
time, otherwise he will waive his right to abandon, and must be content to
claim only for a partial loss. Marsh. Ins. B.1, c.3, s.2; 15 East, 559;
1 T. R. 608; 9 East, 283; 13 East 304; 6 Taunt. 383. When the loss is
admitted to be total, and the policy is a valued one, the insured is
entitled to receive the whole sum insured, subject to such deductions as may
have been agreed by the policy to be made in case of loss.
     3. The quantity of damages being known, the next point to be settled,
is, by what rule this shall be estimated.  The price of a thing does not
afford a just criterion to ascertain its true value. It may have been bought
very dear or very cheap.  The circumstances of time and place cause a
continual variation in the price of things. For this reason, in cases of
general average, the things saved contribute not according to prune cost,
but according to the price for which they may be sold at the time of
settling the average. Marsh. Ins. B. 1, c. 14, s. 2, p. 621; Laws of
Wisbury,
art. 20 Laws of Oleron, art. 8 this Dict. tit. Price. And see 4 Dall. 430; 1
Caines' R. 80; 2 S. & R. 229 2 S.& R. 257, 258.
     4. An adjustment being endorsed on the policy, and signed by the
underwriters, with the promise to pay in a given time, is prima facie
evidence against them, and amounts to an admission of all the facts
necessary to be proved by the insured to entitle him to recover in an action
on the policy.  It is like a note of hand, and being proved, the insured has
no occasion to go into proof of any other circumstances. Marsh. Ins. B. 1,
c. 14, s. 3, p. 632; 3 Stark. Ev. 1167, 8 Park. ch. 4; Wesk. Ins, 8; Beaw.
Lex. Mer. 310; Com. Dig. Merchant, E 9; Abbott on Shipp. 346 to 348. See
Damages.