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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
11 shows the average per-bit energy consumption of M-RPL and RPL at different packet generation intervals.
We also used the total transmitted packets to measure the cost of event detection by standard RPL and QoI-aware RPL.
RPL occurs due to multiple aetiologies; genetic factor is considered one of those aetiologies.
* can be used again by participants for other purpose such as another course of study or for an RPL application/s
Credits awarded as a result of RPL are equivalent to credits awarded by formal educational institutions.
Rapley et al (2008) suggests many ENs study externally, and the EN pathway through RPL in to the BN program, facilitates a better transition from EN to RN.
Measurements achieved at similar absolute reference power limit (RPL) intensity and similar relative individual power limit (R-IPL) intensity during incremental tests before and after GAS expedition.
Three years after getting listed on the national stock exchange, RIL and RPL once decided to join forces.
CRISIL believes that RPL will significantly improve its credit risk profile and net worth, backed by robust growth in revenues and profitability.
In standard application, RPL yields distributions of marginal utilities, leaving analysts to produce WTP distributions by dividing the distributions of attribute coefficients by the distribution of the alternative cost coefficient.
The RPL community mothers programmes are being implemented in various rural areas of Sheikhupura district and in this regard the RPL has also established several centres in different rural areas of district to engage these children on different activities to educate them physically and mentally.