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, 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 ?
If, therefore, an athlete consumes 250 calories per day below the caloric needs--a 250-calorie deficit--it will take 14 days to lose one pound of fat [3,500 cal / 250 cal/day = 14 days].
So, if a 200-pound football player requires 5,000 calories per day to maintain his bodyweight, he must consume 4,750 calories per day--250 calories below his current need--to lose one pound of fat in 14 days.
Insured disaster victims who lose tangible personal property used in their trade or business or held for investment can reinvest their proceeds in any tangible personal property.
Some of them work for at least some of those who try them: the person is able to lose weight and keep it off.
"In Buchnera, the amazing thing is that they keep all the pathways for the essential amino acids and lose all the nonessential amino acids that there is no shortage of [in the host]," says Moran.
A common fear about loser-pays is that the side who loses a routine dispute will get handed a bill for 10,000 hours from Cravath, Swaine & Moore.
Finally, it may be argued that officers who lose their corrective lenses in a duty-related incident are no more impaired than officers with perfect vision who get foreign objects in their eyes, such as chemical mace, fingers, or sand.
And whenever they do lose possession, they will apply immediate pressure to blunt the quality of the opponents' long ball.
"If people who are insulin-resistant lose weight, they oftentimes go back to being normal," says Ron Goor, co-author of the low-fat diet book Choose to Lose.