Beat off party (5)

I believe the answer is:

outdo

'beat' is the definition.
(I know that beat is a more specific form of the action outdo)

'off party' is the wordplay.
'off' becomes 'out' (both can mean wrong or inaccurate).
'party' becomes 'do' (do is a kind of party).
'out'+'do'='OUTDO'

(Other definitions for outdo that I've seen before include "Get the better of" , "Exceed" , "Perform better than, be superior to" , "Go one beter than, surpass" , "Surpass someone at something" .)

I've seen this clue in The Telegraph.

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