loss

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Loss

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.

loss

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)

loss

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 ?
While RPL makes these forward-looking statements in good faith, neither RPL, nor its directors and management, can guarantee that the anticipated future results will be achieved.
By 1914 RPL was advertising three separate tracks: an eleven-month "long course"; a six-week summer school; and an eight-week winter course.
With the purchase of RPL, we can significantly increase our presence in the South.
Structural abnormalities of the uterus have been associated with RPL in many cases.
Mkhize appeared not to understand the essence of what the RPL represented, i.
Among the top 100, Bevan Brittan has the poorest RPL (pounds 180,000), although a climb of 8.
Located in Indiana, RPL was attracted to Chelsea Arts Tower because of its high quality and contemporary design and gallery tenants, said RPL's broker, Cindy Farkas Glanzrock.
BE's chairman and publisher, explain that a goal of the event was to offer a venue for the professional to meet the nonprofessional, for the experienced to share their trials and tribulations with the up-and-coming, he went home and laid the cornerstones for RPL Consulting.
The group has also won the support of the local community with Hills Office Furniture in Cleckheaton donating furniture and Scissett-based RPL (1983) Ltd making signs for free.
com)-- When Ramsey Petersson founder of designer Labels Ramsey & Jade and now New Men's and Women's Couture Label RPL (Ramsey Petersson Label) was looking for a way for the company to get the word out on the importance of Charity, she had to look no further than to Miss Anna Xiques.
Sebi is understood to have issued a show- cause notice in April this year against RIL asking why the market regulator should not take action against it for possible violation of insider trading norms in the RPL share sale case.
NEW ZEALAND (from): DL Vettori, MD Bell, J How, SP Fleming, RPL Taylor, MS Sinclair, JDP Oram, BB McCullum, KD Mills, MR Gillespie, CS Martin, GD Elliot, JS Patel.