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 ?
The appellate court explained that damages for diminution in value and damages for cost of repairs are not always duplicative.
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.
This diminution in value may result in "other-than-temporary impairment" write-downs during the third quarter for those financial institutions that held these shares in their investment portfolios.
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.
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.
Instead, this article focuses on how the property owner can be made whole in the property damage context by permitting an award of "stigma" damages when the property will still suffer a diminution in value after remediation.
Parrish testified that, although he was unaware of any studies regarding the diminution in value of property in the vicinity of aboveground water tanks, he had worked on cases involving nearby electricity transmission lines and elevated highway and bridge projects.
1978), the court held that the plaintiff, a property owner, could not recover the full cost of restoring 26 damaged acres of land but was instead limited to the diminution in value, where the restoration cost was $13,084 but the property's entire value was only $12,116 ($466 per acre).
As such, issues in estimating the diminution in value of these interests by appraisers would be most directly related to the commonality, typicality and predominance requirements.