It's an interesting "definition" - but there could be exceptions.
For an alternating series of real values that converges, what is most commonly seen is that ending on a "plus" term puts you over the correct value and ending on a "minus" term puts you under the correct value. So you steadily close in on the correct value, but you keep crossing from one side to the other as you add each consecutive term.
Given that scenario, you would know that the next term (N+1) is going to overshoot the correct value - and therefor your current error is less than the absolute value of that term.
For example, consider the series ## \sum_{n=0}^{\infty}V^{n} = 1/{V+1} = V + V^2 + V^3 + ...## where ##0>V>-1##.
For V=-0.5, the full sum ("correct value") is 2/3. The partial sums go: 1, 1/2, 3/4, 5/8, 11/16, 23/32, ... . In each case the next partial sum ends up beyond the correct value.
Ahhh. See mfb's post below for the rest of the story.