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 ?
The Victorian Childhood Hearing Impairment Longitudinal Databank (VicCHILD) is a population-based longitudinal databank open to every child with permanent hearing loss in Victoria.
"Hearing loss is a potential reversible risk factor for dementia, including Alzheimer's disease.
It was a solid foundation for examining correlations between hearing loss and three key problems: outdoor activity limitations, psychological distress, and memory loss," said Masao Iwagami, lead author of the study.
Hearing loss severity (db)###43.88+-12.8###48.72+-15.16###50.44+-11.95###insignificant correlation with
He said almost 60pc of the country's population had been facing challenges of hereditary hearing loss.
Daisy Cole, director for Wales at Action on Hearing Loss, said: "The awards are a key event in the charity's calendar and we always enjoy reading through the nominations we receive detailing the work of some of Wales' most outstanding organisations.
For information about Action on Hearing Loss Scotland's social security advice service, call 0141 341 5346, text 07388 227407 or email SocialSecurity@hearingloss.org.uk.
* An estimated 900,000 people in the UK have severe or profound hearing loss.
These findings reveal that age-related hearing loss involves damage not just to the cells in the ear itself, but to nerve cells that support hearing.
They examined the effects of smoking status (current, former, and never smokers), the number of cigarettes smoked per day, and the duration of smoking cessation on the extent of hearing loss.