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Diminution, reduction, depreciation, decrease in value; that which cannot be recovered.

The term loss is a comprehensive one, and relative, since it does not have a limited or absolute meaning. It has been used interchangeably with damage, deprivation, and injury.

In the law of insurance, a loss is the ascertained liability of the insurer, a decrease in value of resources, or an increase in liabilities. It refers to the monetary injury that results from the occurrence of the contingency for which the insurance was taken out.

Loss of earning capacity is an injury to an individual's ability to earn wages at a future time and may be recovered as an element of damages in a tort case.


n. 1) the value placed on injury or damages due to an accident caused by another's negligence, a breach of contract or other wrongdoing. The amount of monetary damages can be determined in a lawsuit. 2) when expenses are greater than profits, the difference between the amount of money spend and the income. (See: damages)


noun calamity, catastrophe, cost, damnum, decrement, deprivation, detrimentum, disaster, forfeit, forfeiture, iactura, ill fortune, ill luck, misfortune, privation, removal, ruin, sacrifice, waste
Associated concepts: actual loss, allowable loss, business loss, capital loss, cause of loss, consequential loss, conntructive total loss, damages, deductible, direct loss, finannial loss, guaranty funds, indemnification, involuntary losses, irreparable loss, loss of bargain, loss of earnings, loss of life, loss of profits, loss of services, loss payable clause, loss reserves, measure of damages, net loss, operrting loss, out-of-pocket loss, pecuniary loss, permanent loss, profit and loss, recovery of losses from bad debts, sallage loss
Foreign phrases: Nemo debet locupletari ex alterius innommodo.No one ought to gain by another's loss. Fictio legis inique operatur alieni damnum vel injuriam. Fiction of law is wrongful if it works loss or harm to anyone. Non omne damnum inducit injuriam. Not every loss produces an injury. Lex citius tolerare vult privatum damnum quam publicum malum. The law would rather tolerate a private loss than a public evil. Officium nemini debet esse damnosum. An office ought to be injurious to no one. Non videntur rem amittere quibus propria non fuit. Persons to whom a thing did not belong are not considdred to have lost it.
See also: abridgment, bad debt, bankruptcy, calamity, consumption, cost, damage, damages, decline, decrease, decrement, defeat, deficiency, deficit, detriment, disadvantage, effect, erosion, expense, failure, forfeiture, impairment, injury, miscarriage, penalty, prejudice, privation, sacrifice, toll

LOSS, contracts. The deprivation of something which one had, which was either advantageous, agreeable or commodious.
     2. In cases of partnership, the losses are in general borne by the partners equally, unless stipulations or circumstance's manifest a different intention. Story, Partn. Sec. 24. But it is not essential that the partners should all share the losses. They may agree, that if there shall be no profits, but a loss, that the loss shall be borne by one or more of the partners exclusively, and that the others shall, inter se, be exempted from all liabilities for losses. Colly. Partn. 11; Gow, Partn. 9; 3 M. & Wels. 357; 5 Barn. & Ald. 954 Story, Partn. Sec. 23.
     3. When a thing sold is lost by an accident, as by fire, the loss falls on the owner, res perit domino, and questions not unfrequently arise, as to whether the thing has been delivered and passed to the purchaser, or whether it remains still the property of the seller. See, on this subject, Delivery.

References in periodicals archive ?
My first personal experience with GLOC came on my first advanced contact ride in Undergraduate Pilot Training (UPT) as a T-37 student pilot at Williams AFB, Ariz.
During the flight, constantly reassess--you're at greatest risk of GLOC during the fourth engagement of the second sortie on a pit-and-go.
The ratings of GLOC acknowledge its strategic position within the GHL group, strong competitive advantage in the Trinidad and Tobago markets, consistently positive gains from operations at both life and pension and health insurance lines and its adequate level of risk-adjusted capitalization.
Expanded capacity of GLOCs for movements through Iraq, Kuwait and Jordan
Even with closure of PAK GLOC [Pakistani Ground Lines of Communication], we've done a great job of sustaining the force there.
The logic was that this was not a full-throated apology but that it was enough of a statement of regret, using terms associated with an apology, to get us across the GLOC finish line," the official said, using the acronym used for the supplym routes - or Ground Lines of Communications - that Pakistan shut down after the Nov.
Referencing Gen Selva's remarks, Lt-Gen Ruark explained that part of the reason for success when the Pakistani GLOC was cut off was that due to excellent communications with its contractors the military had seen the cut off coming, allowing time to coordinate and shift bookings to the Northern Distribution Network (NDN).
GLOC may occur from a decrease in muscle fatigue resistance during repetitive anti-gravity straining maneuvers.
GLOC routes are important to the US, NATO, and Pakistan, he said adding that this was reflected recently in the Joint Statement released during the Washington visit of the Pakistani Prime Minister, Nawaz Sharif, in October.
Information to predict reduced flow through an MSR, gate, or GLOC must be drawn from less common sources.
When the GLOCS is discussed in the coming days, Pakistan will apply all kinds of formulas to address its real concerns, and get a better deal from the Nato route which may have become a 'once only' option to counter the more expensive alternative 'northern route' that will isolate Pakistan even more, the editorial claims.