Loss


Also found in: Dictionary, Thesaurus, Medical, Financial, Acronyms, Idioms, Encyclopedia, Wikipedia.
Related to Loss: Deadweight loss, Lossa

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 ?
They state that the loss corporation must either specifically identify the ownership interest so distributed by the Sec.
Jacksonville can make play-offs with win & NYJ loss & CIN loss & TEN loss.
An osmotic/electrolytic alteration caused by hemodialysis can result in (1) a loss of outer hair cells and spiral ganglion in the cochlea, (2) collapse of the endolymphatic space, and (3) edema and atrophy of the specialized auditory cells.
The second component of income--section 987 gain or loss--generally can be described as the portion of currency gain or loss recognized upon remittance from a Section 987 QBU.
A number of assessments can help to recognize treatable causes of weight loss. The initial clinical evaluation should include a medical history and physical examination to address any psychosocial, medical, or age-related causes.
The taxpayer argued that the prohibition against carrying back capital losses to a previous year and the $3,000 deduction limitation on capital losses applied only to the regular tax computation, not the AMT calculation.
Buyers of commercial property, particularly buyers of Manhattan trophy office buildings, generally don't question 25% full floor Loss Factors notwithstanding the fact that Manhattan office buildings come in all shapes and sizes with vastly different floor plate configurations, load bearing column density, width of perimeter HVAC convectors, etc.
"Buildings don't blow down; roofs blow off and then rain enters the building," Burke said." The loss of a roof cover, valued at $200,000, leads to a loss of $1 million to $100 million loss inside the building.
Method (b) relies on the validity of the assumed energy dependence of the wall loss. The calculation of [gamma]-values is directly based on the step function potential model for the wall.
31 that the amount he invested with a broker is gone, but after investigating, discovers that the broker stole the money, the theft loss is deductible in the later year.
A growing number of teachers and other relevant professionals are now recognising the need to develop an appropriate knowledge and skills base which will allow them to go further in responding effectively to those pupils, not just in the initial stages of loss after bereavement or divorce, but more particularly in the longer term.
Detects and/or reject losses. Most production units already focus on this type of loss through quality management processes or statistical process control (SPC).