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From The Collaborative International Dictionary of English v.0.48:
Gasket \Gas"ket\, n. [Cf. F. garcette, It. gaschetta, Sp. cajeta caburn, garceta reef point.] 1. (Naut.) A line or band used to lash a furled sail securely. Sea gaskets are common lines; harbor gaskets are plaited and decorated lines or bands. Called also casket. [1913 Webster] 2. (Mech.) (a) The plaited hemp used for packing a piston, as of the steam engine and its pumps. (b) Any ring or washer of made of a compressible material, used to make joints impermeable to fluids. [1913 Webster]