diminution in value

diminution in value

n. in the event of a breach of contract, the decrease in value of property due to the failure to construct something exactly as specified in the contract.

References in periodicals archive ?
They claimed that State Farm failed to perform an assessment for diminution in the fair market value of the property and failed to compensate them for the diminution in value loss.
This involved a fairly new Mercedes, and the judge decided the diminution in value was worth 15% of the normal retail value of the car.
He can make what is called diminution in value claim through the courts to recover the amount lost in the value of his car.
According to the Court of Appeals of Texas, diminution in value or stigma damages may be allowed where an appraiser familiar with such properties testifies that flooded homes generally suffer diminished market value.
Obviously, up to the face amount of the policy, he should be reimbursed for the loss he suffered in reliance on the policy, and that includes the diminution in value of the property as it then exists, in this case with improvements.
claiming breach of contract and seeking damages for failure to pay the full cost of the diminution in value of her vehicle.
Surveyors are now being encouraged to disclose details of their claim to the other party early on in the process and to take account of the principle of diminution in value which in many circumstances caps the value of the landlord's claim.
Since these restrictions by their terms lapse, any diminution in value of the stock that this restriction causes on sale cannot be considered in assessing the stock's FMV at exercise.
One study on the effect of landfill contamination on nearby residential property values showed that the diminution in value to the neighboring residential land was directly correlated with the extent and degree of publicity.
Lucas did not decide, nor has any court yet decided the fate of the majority or property owners who lose only a portion of their properties or sustain merely a diminution in value due to regulatory action.
According to the United States Court of Appeals, Tenth Circuit, in a case involving injury to property, the correct measure of damages takes into account the diminution in value of the total acreage, not only the damaged portion.
Specifically, it analyzes whether insureds may recover consequential damages resulting from a partial failure of title under a title insurance policy or whether, pursuant to the 1992 policy, they are limited to receiving the property's diminution in value.