GNU Collaborative International Dictionary of English

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1.       
   ‖Litotes (līˈtṓ‑tēz), n. [NL., fr. Gr. λιτότης, from λιτός plain, simple.] (Rhet.) A diminution or softening of statement for the sake of avoiding censure or increasing the effect by contrast with the moderation shown in the form of expression; a form of understatement; as, ““ a citizen of no mean city,” that is, of an illustrious city; or, “not bad”, meaning “good””.
   
   [1913 Webster +PJC]